Money Market Recap & Forecast from the Daily Communicator
May 17th, 2010
Written by Frost Mortgage
Categories: Branch Partner Opportunities, Economy, Monday Money Market Recap & Forecast, Mortgage Banker News, Mortgage News, Net Branch Opportunities
Last week stocks and bonds recovered from the huge swings of the week before. Although some volatility remains due to Europe’s ongoing saga of financial woes, after Monday’s Wall Street rebound and the big sell-off in bonds, the rest of the week was relatively uneventful.
Although the $1 trillion European rescue package was well-received, global debt problems are not a done deal. Worries persist. There’s a lot of uncertainty about what lies ahead and after the big market moves, questions remain. Was the bailout enough? The answers change daily.
Tuesday’s report had little effect on trading. Wholesale inventories for March rose 0.4% — lower than February’s 0.6% increase and below expectations.
On Wednesday news of a narrower-than-expected trade deficit — $40.4 billion — gave stocks a boost, as did growing confidence that the bailout in Europe would succeed.
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