This (energy) trend is definitely our friend.  Despite the “cold war”-like feel in the Russia/Georgia (not Atlanta) dispute and a decrease in last week’s inventory levels, energy traders failed to buck the latest trend as consumers and business alike are hoping for an even greater reprieve at the pumps in the coming days (weeks).  While many of the latest economic releases point to continued weakness AND inflationary pressures (the worst of both worlds), the reduced energy prices will not show up in the data for, at least, another month of two.  Financials struggled again with more write-down, losses, and regulatory settlements, though the general mood on Wall Street seem a tad more upbeat.  Not a bad way to end the summer. 

Coming up in the week ahead:  PPI (Tuesday), Housing Starts (Tuesday), Leading Economic Indicators (Thursday).

Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended August 15, 2008.

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