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Bobbys Corner-Open Market-Sept.2.2011

Good Morning:

Investors and traders worldwide will be awaiting this morning’s release of US employment data at 8:30 AM EST.

The US has a national holiday on Monday-Labor Day.  Most US markets will be closed-but the FX market will be up and running.

Bobbys Corner-Open Market-Aug.18.2011

Good Morning:

CHF softened in overnight trading versus the USD and EUR, as speculation that the Swiss National Bank will institute further measures to slow their rising currency.
The USD and JPY saw additional strength prior to this morning’s US data on inflation.  Market participants are expecting the data to show that inflation is not enough of a factor to have the Fed initiate Q3, or 4 or 5- whatever you want to call it.

Bobbys Corner-Open Market-Aug.8.2011

Good Morning:

Nervous and choppy markets greet us this morning (and last night)-with Dow futures off over 200 points, S&P off 24, NASDAQ off 45.
Gold has hit another all time record (over $1700/oz), and oil is lower again.
This was widely expected after Friday afternoon announcement by S&P that the USA’s credit rating was going to be downgraded to AA+ from AAA.

Bobbys Corner-Open Market-Aug.2.2011

Good Morning:

With the debt ceiling deadline looming-the US Senate is set to vote on the bill at noon today.  On Monday the House of Representatives voted and passed the bill even though liberal Democrates and conservative tea party members had their seperate idealologies.
The agreement falls short of the savings that both the Republicans and the White House were looking for.
This agreement must get to President Obama’s desk today to eleviate a US default.

Even with this agreement-there is no guarantee that the USA’s AAA rating will remain steady-and we may see a downgrade-as the rating agencies have called for savings of over $4 trillion over 10 years-far more than the $2.4 trillion offered in this package.

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