Thursday, August 11, 2011

It's The Economy Stupid: It's Gonna Be A Wild Ride

Okay rumors of problems with French banks are causing the markets in Europe to sell off sharply and that is likely to translate into a wild ride today in our markets.

 

Initial Jobless Claims came in at 395K, below economist’s estimates of 405K, and the number seems to have shifted from the 430K – 420K range to the 400K range, a good development for the economy.

 

Let’s hope this translates into some positive market numbers and that the rumors of problems in Europe don’t swamp the markets in the U.S. 

 

Clearly the risk of systemic risk in the credit markets worldwide is overshadowing other economic news.

 

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

 

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