Succinct summation of week’s events


1) Commodity prices move higher, good global economy?
2) Jobless Claims fall to lowest since early May not incl. July 4th holiday
3) Aug retail sales better than expected
4) Business Inventory rise will boost GDP
5) Current Conditions of German ZEW highest since Jan ’07
6) Greece sells 26 week paper
7) Spain sells 10 yr, 30 yr paper, separates itself from Greece, Ireland and Portugal concerns
8) Basel III provides capital clarity to banks.


1) Commodity prices move higher, inflation?
2) UoM confidence lowest since Aug ’09
3) Philly and NY mfr’g data below estimates
4) Ireland bond yields and CDS shoot higher
5) Shanghai index closes at 3 1/2 week low
6) Gold at record, indictment of paper currencies and central bank policy
7) Contrarian take, AAII says Bulls rise to highest since Aug ’09, up 30 pts in 3 weeks
8) German ZEW 6 month economic expectations fall to lowest since Feb ’09.

-Peter Boockvar

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