NEW YORK (
) -- Good Sunday afternoon, and welcome to another edition of Weekend Reading. First a look back at the week that just finished, then a look forward to the week ahead and, lastly, a summary of articles and papers worth reading.
For the week, the
ended down 1.2%, the
lost 1.1% and the
lost almost 2%. It was, in other words, an unhappy week in equity markets and another fairly cheery one in bond markets.
There continues to be nervousness about the pace, strength and length of the U.S. economic recovery and the consequences for the rest of the global economy, from the dollar, to debt, to equities.
Looking ahead to next week, investor sentiment remains highly negative, despite some reassurance from
chief Ben Bernanke in Jackson Hole Friday. There is a strong feeling afoot in the land that the U.S. is teetering on the edge of a double-dip recession, and there is an equally strong sense that there will be no second stimulus, especially with Republicans seemingly poised to take the House in November.
Turning to economic indicators, the Institute for Supply Management's manufacturing report will come out Wednesday, followed by its service-sector report on Friday.
As for earnings, we will see reports from
, among others.
Lastly, here are some articles and papers worth reading:
- Have we underestimated Chinese consumption? (China Financial Markets)
- The uncomfortable mathematics of monetary policy (Reuters)
- Gold's Evangelist (Businessweek)
- Latest issue of Chance (Chance)
- Schumpeter: The innovation machine (The Economist)
- The death of an American dream (Globe and Mail)
- Renting Out Home Belongings Over the Internet (The New York Times)
- Why We Need a Second Stimulus (The New York Times)
- Thousands flee as long-sleepy Sumatra volcano erupts (Reuters)
- Getting Out of Stocks (The New York Times)
- One New Bank in 2010, but at Least It's a Double-Wide (The New York Times)
- After Housing Bubble, the Dark Side of Homeowner Dreams (TIME)
- California Lawmakers Weigh Hundreds of Bills as Adjournment Nears (Bond Buyer)
- Food production: Agriculture wars (Financial Times)
- Hendry on the Potash (POT) bidding war (YouTube)
--Written by Paul Kedrosky in La Jolla, Calif.
>To contact the staff member responsible for this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
At time of publication, Kedrosky had no positions in stocks mentioned, although holdings can change at any time.
Dr. Paul Kedrosky is a former highly ranked sell-side technology equity analyst, and he currently runs a technology finance institute at the University of California, San Diego. He is also a venture partner with Ventures West, an institutional venture capital firm with more than $400 million under management. He maintains a widely read blog called
Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While Kedrosky cannot provide investment advice or recommendations, he appreciates your feedback;
to send him an email.