Archive - Sep 4, 2009 - Story

• Unemployment rate: 9.7%, higher than the expected 9.5%.
• Asian stock markets were mostly higher Friday, with mining stocks rising.
• Fed’s Fisher says prolonged period of 'sluggish' economy likely.
• Global economy is emerging from its deep slump faster than forecast: OECD.
• ISM non-manufacturing index rises to 48.4, indicating continued contraction.
• Lead surges to 16-month high after China vows to clean up metals industry.
• Mortgage rates for 30-yr fixed US home loans fell this week to 5.08%: Freddie Mac.

"Markets are traded by people, not machines; and a person’s ability to absorb risk and anxiety is limited. This is why ultra volatile markets eventually calm down - traders become exhausted and close out their risky positions. Although it certainly felt as if the world was going to end, the reality was: This too will pass. It is now seeming more and more likely that although Bernanke may not be able to guarantee a good ending, at least he can make the path there less bumpy. As such, both Actual and Realized Volatility should slowly decline."