October 2011 San Diego Events

San Diego Film Festival     Sept. 28-Oct. 2
Co-founded by an award-winning filmmaker, SDFF offers a fresh take on film premieres from American and international features to thought-proving documentaries, short films and music videos. Gaslamp Theater: 701 5th Avenue. Natalie 619-582-2368 / www.sdff.org

Financial Market Update

This Week; after some increase in rates last week, but technically managing to hold bullish bias; the bond and mortgage markets have the FOMC meeting to think about. Not only the bond market but the stock market as well with many expecting some sort of easing out of the Fed. The economic outlook hasn't improved since Bernanke said in late August he has more tools in his box to help stimulate a recovery. Hard to buy into that however, QE 2 didn't do anything to jump the economy, in fact the recent economic data has been weaker than expected. There is talk the Fed may announce it will begin selling short-dated maturities while increasing the purchases of longer dated noted and bonds. That of course would likely keep long rates from increasing.  

There is much data to look at this week' weekly jobless claims and Aug existing home sales lead the way. August housing starts and permits are also out this week. Sales, starts and permits are all expected to have declined in August.



TBWS

This Month In Real Estate - September 2011

Financial Market Update

This Week; the 10 yr note and mortgages will start at historic 60 yr lows; the equity market is likely to continue its volatility with the indexes declining through the week. Obama's jobs plan apparently hasn't gotten any traction with investors, since his speech the indexes were hit hard Friday. Most of this week's economic data comes at the later part of the week. In the meantime Treasury will auction $66B of notes and bonds Monday thru Wednesday.

The debt crisis in Europe continues to impact US markets with Greece this week scheduled to make an agreed cut in spending in order to get the second infusion to avoid default. Based on news out of the country, they may not be able to meet the conditions laid out. There are a few voices now that question whether Greece should just default and start over. The sovereign debt issues are spreading and taking Europe's banks down on concerns of defaults in a number of countries.

This week's data points; PPI and CPI for August, the Sept Philly Fed index and August retail sales.



TBWS