The Economic Week Ahead…….

22. July 2007 by Burbank Real Estate.

Monday 23

3 & 6 Month Bill Auction

Tuesday 24

ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales. Is considered to be one of the most timely indicators of consumer spending.

Redbook a timely indicator of consumer spending and also represents about 10% of total retail sales. This measure tracks weekly sales from discounters, chain and department stores.

State Street Investor Confidence Index Measures actual levels of risk in investor portfolio.

4 Week Bill Auction & 20 Year Tips Auction

Wednesday 25

Existing Home Sales-consensus 5.870M….. Year to year this number has dropped 10.3% and housing supply at 8.9 months is at it’s highest since 1992. June sales are not expected to be any better.

MBA Purchase Applications measures applications at mortgage lenders. This is considered a leading indicator for single family home sales and housing construction.

EIA Petroleum Status Report reports on crude oil inventories in the U.S.

Beige Book

2 Year Note Auction

Thursday 26

New Home Sales Consensus 890,000

Durable Goods Orders Consensus 2.0%

Jobless Claims Unemployment claims. Consensus 312K

Help Wanted Index

EIA Natural Gas Report-Tracks natural gas inventories.

3 and 6 month Treasury Bill Announcement Investors use this data to attempt to predict future Federal Reserve policy.

5 Year Acution

Money Supply

Friday 27

Consumer Sentiment Consensus 91

GDP Consensus 3.2%
Last week was interesting as we saw the Dow reach 14,000 and come down 300 points the next day. Subprime and earnings concerns continue to plague the market. Overall higher mortgage rates will contribute to a softer housing market. Job market is tight and higher gasoline prices at the pump continue to put a drag on consumer budgets.

The consensus seems to be that we can expect more volatility going forward.

Have a great week!

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