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2006-08-20 :: The Week Ahead

This coming week is light on economic news, with housing sales stats (existing and new) due out Wednesday and Thursday.  Fed Chair Bernanke is also scheduled to speak on the economy at a meeting in Jackson, WY. 

However, the big news is that on Tuesday Iran is scheduled to announce whether they will accept the incentives that the US and Europe have offered it to end its nuclear program.  I doubt that anyone is expecting that they will give up their program; the best case scenario is that they will indicate they are more accomodative to inspections and monitoring.  Their response has the potential to rock the markets if they thumb their nose at the negotiators, but they are more likely to seem accomodative and act otherwise (that’s been their pattern so far when dealing with the European negotiators, according to the International Atomic Energy Agency).

The week ahead will continue to have its turbulence.  Last week was very friendly, with the broader markets up a couple of percent.  The positive sentiment came from the feeling that the economy could acheive a soft landing, that oil prices were headed below $70, and that peace in Lebanon would hold. 

Have a great week!

Mark