Industry NewsMarkets & Economy

Fears for the US economy are overdone

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Next week sets up as three difference-making days, markets right now pulling chips and setting new bets. The Fed will conclude a meeting on Wednesday, and we'll get the July survey from the Institute for Supply Management (ISM) the same day. Thursday the European Central Bank will meet. Friday comes the whale: employment stats for July. The tilt going in: the first substantial selling of 10-year T-notes in weeks, its yield up from brief visits to 1.39 percent to 1.53 percent today, the high in three weeks. Why traders would unload the safety play just when the party is getting ugly ... takes a little telling. Sentiment turned yesterday on European Central Bank President Mario Draghi's assurances that "the European Central Bank is ready to do whatever it takes to preserve the euro. Believe me, it will be enough." Draghi went on to announce his plans to date Jennifer Lopez tonight, Kim Bassinger tomorrow, and win the decathlon gold next week. If a central b...