Excluding today, this week’s calendar is full of economic data. Tuesday we will get an inflation reading from the Producer Price Index and a status on the consumer in the form of Retail Sales data. Late in the week we will have the Consumer Price Index, Industrial Production, Housing Starts and Leading Indicators.
All of this data’s effect on the U.S. markets is nil as the focus continues to be on Europe and the financial crisis that appears to be spreading relatively unchecked. EU policy makers seem unwilling to make the tough decisions; however, the longer they wait the more likely it is the markets will make the decisions for them.
For today, U.S. stock markets are trading slightly lower with Treasury prices flat from the close last Thursday. Mortgage prices are worse by approximately .125%.
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