Financial Markets and Economic Events Day Ahead: October 22, 2008

By: Joseph_Brusuelas

Day In Review: US Fed creates $540bln new facility to relieve pressure on money market mutual funds caused by redemption requests.

Weak earnings at bellwethers Caterpillar and DuPont, as well as, Texas Instruments and Sun Microsystems were the primary catalyst for a negative day in equities

In after hours action. Apple beat earnings estimates coming at

Flight to safety continued as the Yen continued to see multiyear highs against the Euro and saw another session of positive action vis-à-vis the dollar.

Important regional banking concerns such as KeyCorp, US Bancorp, Regions

Financial Corp and National City Corp all signaled that they may ultimately tap the
US Treasury's plan to recapitalize the banks.

Lehman CDS settlement occurs without any collateral damage in the markets

Day Ahead
No data risk on Wednesday

Commercial Bank reserve settlement with Fed

EIA Petroleum Status Report at 10:35 EDT

Canadian retail sales and Japanese merchandise trade data at the head of a busy day in international markets

US Treasury Paulson to speak on China and the global economy

Minneapolis Fed President Stern to speak on topic TBA.

By Joseph Brusuelas
Chief Economist, VP Global Strategy of the Merk Hard Currency Fund

Bridging academic rigor and communications, Joe Brusuelas provides the Merk team with significant experience in advanced research and analysis of macro-economic factors, as well as in identifying how economic trends impact investors.  As Chief Economist and Global Strategist, he is responsible for heading Merk research and analysis and communicating the Merk Perspective to the markets.

Mr. Brusuelas holds an M.A and a B.A. in Political Science from San Diego State and is a PhD candidate at the University of Southern California, Los Angeles.

Before joining Merk, Mr. Brusuelas was the chief US Economist at IDEAglobal in New York.  Before that he spent 8 years in academia as a researcher and lecturer covering themes spanning macro- and microeconomics, money, banking and financial markets.  In addition, he has worked at Citibank/Salomon Smith Barney, First Fidelity Bank and Great Western Investment Management.

© 2008 Merk Investments® LLC
The Merk Hard Currency Fund is managed by Merk Investments, an investment advisory firm that invests with discipline and long-term focus while adapting to changing environments. Axel Merk, president of Merk Investments, makes all investment decisions for the Merk Hard Currency Fund. Mr. Merk founded Merk Investments AG in Switzerland in 1994; in 2001, he relocated the business to the US where all investment advisory activities are conducted by Merk Investments LLC, a SEC-registered investment adviser.

Merk Investments has since pursued a macro-economic approach to investing, with substantial gold and hard currency exposure.

Merk Investments is making the Merk Hard Currency Fund available to retail investors to allow them to diversify their portfolios and, through the fund, invest in a basket of hard currencies.

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.