The week Ahead

Short week ahead for fixed income players as the market was closed today.

We closed last week at the top of the market for 2007 and near 2006 tops... The question is will we break convincingly to the upside or remain in the large trading range between 105 and 115? Economic data roots for lower prices with relatively strong consumption and strong employment numbers but we are in the middle of a financial crisis and bad news just keep pouring in (today was the turn of e-trade).

This week's economic datas are Inflation numbers (Wednesday and Thursday), Retail Sales (Wednesday) and Empire State Mfg and Phily Fed surveys (Thursday)