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Bobbys Corner-Open Market-October 14.2011

Good Morning:

FX markets prepare themselves for this weekend’s G-20 meeting, and expectations are high that the Euro Zone will come up with a meaningful monetary plan to deal with the regions sovereign debt issues.

In other news-S&P downgraded Spain, and placed them on negative watch.  This followed Fitch rating-who downgraded the country on October 7.  Fitch also cut Italy’s rating on the same day.  Spain’s leading bank-Santander was also downgraded earlier this week.

In additional signs of stress on the banking system-Fitch cut the rating of UBS, Lloyds, and Royal Bank of Scotland.  The rating agency also put more than a dozen banks under negative watch.

World equity markets all traded higher-and US Futures are also higher this morning.
Oil, Gold, Silver are all higher this morning.

TIME       FOR EST. PRIOR
8:30A.M. IMPORT PRICE INDEX MoM SEPT -0.40% -0.40%
8:30A.M. IMPORT PRICE INDEX YoY   SEPT 12.40% 13.00%
8:30A.M. ADVANCE RETAIL SALES         SEPT. 0.70% 0.00%
8:30A.M. RETAIL SALES LESS AUTOS SEPT 0.30% 0.10%
8:30A.M. RETAIL SALES EX AUTO & GAS  SEPT 0.30% 0.10%
9:55A.M. U. OF MICHIGAN CONFIDENCE OCT.P 6O.3     59.4O
10:00A.M. BUSINESS INVENTORIES   AUG. 0.40% 0.40%

HAVE A GREAT DAY-WEEKEND & GOOD LUCK