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Five Key Events Next Week

July 29, 2011
The US debt ceiling remains unresolved at this late date.  The market's response over the past week to Europe's new initiatives is poor as peripheral, including Spain and Italian, bond yields and spreads over bunds widened considerably.  Yet as investors, we must look ahead.
There are five key events next week that will be on radar screens…
Five Key Events Next Week Five Key Events Next Week Reviewed by Marc Chandler on July 29, 2011 Rating: 5
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Torn Between Two Drivers

July 28, 2011
The same two issues continue to vie for dominance in the global capital markets. On one side, there is the unresolved European debt crisis.  The ink is not even dried on Greek 2.0 in the sense that government's need to ratify the agreement and implementation must begin, and already it is evident that to bring Greek debt burden to more sustaina…
Torn Between Two Drivers Torn Between Two Drivers Reviewed by Marc Chandler on July 28, 2011 Rating: 5
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No Closure

July 27, 2011
The US debt ceiling debate continues.  The House vote, initially slated for today, has been postponed.  President Obama's advisers and the the executive branch's Office of Management and Budget were urging a veto of it in any event as it provided for a six month fix only.  Such a short term fix would not have been sufficient to prevent a d…
No Closure No Closure Reviewed by Marc Chandler on July 27, 2011 Rating: 5
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In Ugly Contest, US Moves into the Lead

July 26, 2011
The stalemate in Washington has eclipsed the Greek tragedy to be the main driver of the foreign exchange market.  The US dollar has sold off hard as a credit downgrade and possible default looms closer.  The Aug 2 deadline seems rather soft as indications suggest US government revenues rose recently more than projected and outlays were less than e…
In Ugly Contest, US Moves into the Lead In Ugly Contest, US Moves into the Lead Reviewed by Marc Chandler on July 26, 2011 Rating: 5
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Reflections on Europe's New Initative

July 24, 2011
After staring into the abyss, and reducing risk, investors anticipating a new European initiative spent most of last week putting risk back on.  The details of the European initiative were less important in the first instance than the fact that a new initiative was to be taken.
My general sense is that European officials have bought some time, bu…
Reflections on Europe's New Initative Reflections on Europe's New Initative Reviewed by Marc Chandler on July 24, 2011 Rating: 5
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