Skip to: Content
Skip to: Site Navigation
Skip to: Search


The Reformed Broker

The market holds its breath

As Ben Bernanke and ECB President Mario Draghi get set to make speeches later this week, the stock market waits and hopes for good news.

By Guest blogger / August 27, 2012

In this file photo from last week, Trader Frank Cannarozzo, right, works on the floor of the New York Stock Exchange. This week, the stock market waits for pivotal speeches from Ben Bernanke and the president of the European Central Bank.

Richard Drew/AP/File

Enlarge

This whole week's action is likely to be a giant exercise in holding our collective breath.  Later this week we get speeches from the two most consequential people in the world right now - the Jackson Hole address from Benjamin Bernanke and an address from the ECB's Mario Draghi.

Skip to next paragraph

Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade.

Recent posts

Bernanke famously signaled QE 2 at the 2010 Jackson Hole speech and the markets direly want to see a repeat performance this year.  I know that sounds silly with the major indices within Snooking distances of four year highs, but trust me on this.  A lot of the year's gains could be washed away like a child's sand castle very quickly should the bratty traders decide to use the S&P futures market as the tool of their temper tantrum over a "disappointing" slant to his commentary.  On the Euro side, we want to hear a renewed commitment that the ECB will continue its metamorphosis into more of a Federal Reserve-like body, complete with full bailout authority.

Is QE 3 on the horizon?

Will the Europeans begin targeted bond yield programs for the periphery so as to enable Spain and Italy to deleverage beautifully without the added pressure of screaming interest rate payments?

Will the market get another shot of that junk, the junk it so desperately needs and craves?

This will be the focal point into Labor Day weekend, the central planners are in the driver's seat for the moment.

Buckle up.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on www.thereformedbroker.com.

  • Weekly review of global news and ideas
  • Balanced, insightful and trustworthy
  • Subscribe in print or digital

Special Offer

 

Doing Good

 

What happens when ordinary people decide to pay it forward? Extraordinary change...

Danny Bent poses at the starting line of the Boston Marathon in Hopkinton, Mass.

After the Boston Marathon bombings, Danny Bent took on a cross-country challenge

The athlete-adventurer co-founded a relay run called One Run for Boston that started in Los Angeles and ended at the marathon finish line to raise funds for victims.

 
 
Become a fan! Follow us! Google+ YouTube See our feeds!