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Succinct Summation Of Week’s Events (08/26/11)
Succinct summation of week’s events: Positives: 1) Bernanke showed his version of self restraint 2) July Durable Goods orders both headline and ex transports exceed forecasts but we know the world changed in Aug 3) July New Homes remain depressed, falling to lowest since Feb, better chance to eat into excessive existing home inventory 4) China preliminary HSBC mfr’g index rises to 49.8 from 49.3, below 50 still but better than feared 5) July Euro region mfr’g and services composite index unchanged vs expected decline 6) Better than expected earnings from Credit Agricole help to lift most European bank stocks on ... (full story)