Update #1/ Week of July 20, 2009 (Equities Volatility)

Good Morning Everyone and Happy Monday! There are a slew of companies reporting earnings today and all through the week, so the descriptive word for the stock market is volatility. We’ve already been up and down below the unchanged mark and back up again for a gain of about 60 points in the Dow already today. Look for this to continue all week. I’ll let you read about all the companies and their reports – too many to mention in this article.

Credit markets don’t like volatility, as we know. They would rather stand back a few steps and look for any sudden rallies and have time to react than to try to play close to the mark. Moody’s had some positive, albeit cautious comments this morning stating that global economy is stabilizing. Although banks have had a good quarter, they still have sizeable hurdles to over come later this year and into next year. This has helped credit markets some.

I will be here all day today, and will be available for your pricing or loan scenario questions. Please call me here or email me if I can help you. Tomorrow I will be speaking at a banker shop in the Valencia area, and will be out all day making calls. Reach me on my cell phone tomorrow as I will be out in the field. Have a terrific Monday and a very prosperous and profitable week!

Warmly,
The Ara Melkonians TEAM,
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