Monday Tuesday Market Commentary

by Alex Stenback on October 10, 2006

                                                         Graphic Courtesy MSNBC
Last Week
Rates up just a bit last week after the release of Friday’s (weak) employment report showing the economy created only 51,000 of an expected 120,000 +/- jobs.  Normally, this would help rates, but because the BLS (Bureau of Labor Statistics) revised upward the previous months data – effectively "adding" 60,000 jobs to the economy (an absurdly large revision, says Ritholtz) the bond market hit the skids and rates ticked upwards.
This Week
The Minutes from the last FOMC will be the wild card this week, as the world gets a peek into what was discussed, with possible clues as to their outlook vis a vis inflation, the housing market, and the broader economy – things could break either way here.  Retail sales prints Friday, and could also roil the markets – a very weak number will help rates, a strong number may hurt.
ยท This Week’s Economic Calendar [Barron's]

Leave a Comment


Previous post:

Next post: