Vital Signs: Soaking in Housing Woes

Lots of data is coming on new and existing home sales and house prices, durable good orders, personal income, and consumer spending

The financial markets are still trying to absorb it all: The collapse of Bear Stearns (BSC), an expanded role for the Federal Reserve in brokering Bear’s purchase by JPMorgan Chase (JPM), the Fed’s new lending facilities, another big cut in interest rates, and continued signs that point to rough going in the economy. Fallout from these events will spill over into the coming week, as investors continue to soak it all in, even as they sort through the next batch of reports.

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