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ECONOMIC NEWS
In Europe, S&P downgraded Belgium one notch to AA from AA-plus, further heightening worries over the Euro zone debt problems.
Earlier, EU officials said Euro zone member states were discussing dropping private sector involvement from the permanent bailout mechanism.
An Italian T-bill auction offered a fresh indication of investors’ lack of confidence in the country’s newly appointed government and broad fears that the Euro zone debt crisis cannot be contained. Yields rose to new Euro era highs.
THE WEEK AHEAD
MONDAY: New home sales, Dallas Fed mfg survey
TUESDAY: S&P Case-Shiller home price index, consumer confidence, FHFA home price index, Fed’s Kocherlakota speaks, Fed’s Yellen speaks;
WEDNESDAY: Weekly mortgage applications, Challenger job-cut report, ADP employment report, productivity & costs, Chicago PMI, pending home sales index, oil inventories, Beige Book, farm prices, AT&T/TMobile hearing, USDA’s agricultural trade outlook
THURSDAY: Jobless claims, ISM mfg index, construction spending, chain store sales, auto sales
FRIDAY: Employment situation, Fed’s Plosser speak
ECONOMIC NEWS
In Europe, S&P downgraded Belgium one notch to AA from AA-plus, further heightening worries over the Euro zone debt problems.
Earlier, EU officials said Euro zone member states were discussing dropping private sector involvement from the permanent bailout mechanism.
An Italian T-bill auction offered a fresh indication of investors’ lack of confidence in the country’s newly appointed government and broad fears that the Euro zone debt crisis cannot be contained. Yields rose to new Euro era highs.
THE WEEK AHEAD
MONDAY: New home sales, Dallas Fed mfg survey
TUESDAY: S&P Case-Shiller home price index, consumer confidence, FHFA home price index, Fed’s Kocherlakota speaks, Fed’s Yellen speaks;
WEDNESDAY: Weekly mortgage applications, Challenger job-cut report, ADP employment report, productivity & costs, Chicago PMI, pending home sales index, oil inventories, Beige Book, farm prices, AT&T/TMobile hearing, USDA’s agricultural trade outlook
THURSDAY: Jobless claims, ISM mfg index, construction spending, chain store sales, auto sales
FRIDAY: Employment situation, Fed’s Plosser speak