Negative

I am just passing on a post I just read from Calculated Risk noting some negative news expected out. Before going there, this blog also has a nice, unofficial, problem bank list. While the FDIC has only taken down a couple of banks the past couple of weeks - well off their YTD average - that does not mean things are improving as the problem bank list ain't shrinkin'! Okay, that last sentence had just a tad of flashback to my wife's reunion recently in WV. It was a three day reunion and included one night with both of us and our two kids in the ER (though everything turned out fine.) But I digress. Back to the post of the negative news, which is mostly focused on real estate. As the link notes, expect some bad number in that category in the weeks and months to come. Also, expect a major downward revision to the second quarter GDP estimates. I have seen another article calculating that the GDP - originally estimated at 2.4% - will be reduced to 1.2% due in large part to the new trade deficit numbers out this week. Undoubtedly, when it is officially announced the market will react, but the numbers are already in so the result is expected.


http://www.calculatedriskblog.com/2010/08/negative-news-flow.html

I may post a bit more later.

Disclosures: None