September 2-5
Festival of Sail 2011
The Festival of Sail is an annual event with something for everyone. The four day event includes live entertainment from a variety of genres, a petting zoo, cruises on San Diego Bay, cannon battles, sailing on racing yachts, over 150 arts and craft vendors, multitude of food options, interaction with pirates, and more! Time: Refer to website for schedule Location: San Diego Bay – Maritime Museum of San Diego, 1492 North Harbor Dr. For more information visit www.sdmaritime.org |
September 2011 San Diego Events
Financial Market Update
This Week: its still all about what is occurring in Europe with the bank and sovereign debt problems, Treasury auctions and on Friday the opening of the annual Jackson Hole conference where markets are expecting something from Fed chief Bernanke on what, if anything the Fed can do to rev up the economy----not much in our opinion. There are only a couple of economic releases to consider; July new home sales and the second look at Q2 GDP. Treasury will start Tuesday with $35B of 2 yr notes, Wednesday $35B of 5 yr notes and Thursday $29B of 7 yr notes. The bond and mortgage markets will continue to focus attention on how the stock market trades; stocks up, rates increase, stocks down rates fall-----all in a narrow range. Lenders still have issues with locks they bought; how many will close? Prices for mortgages set by lenders will continue to be conservative. Look for continued volatility in stocks and bonds this week.
TBWS
TBWS
Financial Market Update
This Week: Late Friday afternoon S&P downgraded US credit rating to AA+, a notch below AAA and put the US on negative credit watch. They waited until after US markets closed to make their move. Monday morning the US stock market will open substantially lower, maybe as much as 200+ points. The US Treasury markets will open better on safe haven moves. Last Friday the rate markets were weaker and likely would have been lower again on Monday had it not been for the decision by S&P. S&P is essentially questioning the will of the people and therefore Congress and this Administration the ability to actually deal with cutting spending; based on the circus we just went through it appears the will or guts are not there. S&P may actually be helping driver home a very serious point.
The week has Treasury borrowing $72B of notes and bonds on Tuesday through Thursday and the FOMC meeting on Tuesday. In Europe the ECB is buying sovereign bonds from those troubled countries. There isn't much in the way of economic releases; July retail sales on Friday is the only major report. With the auctions, the credit downgrade and the FOMC meeting markets may be very volatile this week.
TBWS
The week has Treasury borrowing $72B of notes and bonds on Tuesday through Thursday and the FOMC meeting on Tuesday. In Europe the ECB is buying sovereign bonds from those troubled countries. There isn't much in the way of economic releases; July retail sales on Friday is the only major report. With the auctions, the credit downgrade and the FOMC meeting markets may be very volatile this week.
TBWS
Market update & advice
Even though other residential housing market analysis groups like S&P/Case-Shiller Indexes® are showing another straight month of increased home prices, this activity is highly seasonal. Overall, the demand is not high and the supply in many cities around the county is even weaker. Sales have been on the slower side this summer because of the lack of credit available to buyers and overall appealing inventory to choose from. Because of this, good homes stand out and sell quickly. But with cheap 30-Year loans still averaging around the 4.5% rate, many buyers find it worthwhile to work with their banks tighter loan restrictions to take advantage of the great rates still available.
Financial Market Update
This Week; over the weekend it appears there is a deal to avoid a debt default. Congressional leaders and the President came to a compromise as by know everyone is aware of. What isn't clear yet is will the deal make it through the House after members actually see the plan that early this morning hasn't been seen by most members in the House or Senate. The stock market will open better this morning on the news but the bond market isn't likely to buckle much. So far there has been nothing from the rating agencies whether the deal is sufficient to avoid a downgrade of US credit rating.
Once the borrowing limit is increased markets can move back to focusing the economy. Today at 10:00 the July ISM manufacturing index and this afternoon auto and truck sales for July. This is employment week with July employment data on Friday. Expect continued uncertainty and potential market volatility this week as investors sift over the debt ceiling details. Prices of bonds and mortgages will continue to hold a bullish bias given the economic weakness and high unemployment. Whether we can hold the 10 yr at 2.75% area is not clear; it will take a few days for the entire agreed upon plan to be digested.
TBWS
Once the borrowing limit is increased markets can move back to focusing the economy. Today at 10:00 the July ISM manufacturing index and this afternoon auto and truck sales for July. This is employment week with July employment data on Friday. Expect continued uncertainty and potential market volatility this week as investors sift over the debt ceiling details. Prices of bonds and mortgages will continue to hold a bullish bias given the economic weakness and high unemployment. Whether we can hold the 10 yr at 2.75% area is not clear; it will take a few days for the entire agreed upon plan to be digested.
TBWS
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