Debt-Crisis Vote Goes Down to Wire in House

Wall Street Journal, July 28, 2011
Debt-Crisis Vote Goes Down to Wire in House

Up Week for U.S. Markets

Wall Street Journal, July 23, 2011
Up Week Ends on a Downer

Obama Backs Latest Bargain

Wall Street Journal, July 20, 2011
Obama Backs Latest Bargain

'Stress Tests' Fail to Ease Pressure on Euro

On May 1 the euro reached its peak for the year based on euro to dollar conversions, buying 1.483 USD. Since May it has begun a slow decent following news of Portugal’s aid request and Greece’s debt restructuring. Recent news of only eight reported banks failing the 90 bank stress test conducted by the European Banking Authority gave the euro a boost to begin the week. However, further details from the test and Greek’s debt restructuring uncertainty are likely to continue the downward trend, pushing the euro to near the 1.36 USD mark.

Wall Street Journal, July 18, 2011

'Stress Tests' Fail to Ease Pressure on Euro

Bernanke Remarks Boost Dollar

The dollar gained on Thursday following Federal Reserve Chairman Ben Bernanke’s statements that the Federal Reserve is not likely to enter into a third round of quantitative easing. An agreement in Washington between Republicans and Democrats for spending cuts amounting to $1.5 billion also boosted the dollar and gained positive momentum for debt-ceiling talks.

Wall Street Journal, July 14, 2011
Bernanke Remarks Boost Dollar

Dow Down on Europe Debt Worries

Economic woes in the U.S. and Europe’s debt contagion have negatively affected U.S. markets this week. The Standard & Poor's 500 stock index fell 24.32 points, or 1.8%, on Monday and fell again Tuesday to finish at 1313.64. The two-day decrease brought the year-to-date total return to 5.53% ending Tuesday.

Wall Street Journal, July 12, 2011
Dow Down on Europe Debt Worries

Movement in Budget Impasse

Social Security and taxes will be at the forefront of government discussions over a deficit deal as Congress continues seeking a proposal that will allow the U.S. government to meet its August 2 deadline for repayment of debt obligations.

Taxes have been the greatest 'stumbling block' keeping government discussions from formalizing a deficit deal. As the article states, "Until now, Republicans have rejected any tax increases, while Democrats have insisted on including some."

Compromise is likely to occur in the coming weeks as Congress seeks to develop a long-term plan that will fuel further economic recovery.

Wall Street Journal, July 7, 2011
Movement in Budget Impasse