summer bank holiday

The slowest of slow summer weeks kicks off with a made up UK holiday. Summer Bank Holiday, a Depression-era holdover, is a excuse to give jealous Brits their own three day weekend in front of the Labor Day holiday in the US. Consequently, very little happens this week. There isn't even much market data coming out, although existing home sales is released today and 2nd Qtr GDP is released Thursday, two backward-looking figures. With liquidity oozing back into the market, barring any external influences, markets should remain relatively placid. Not the equity rallies and wild swings in the front end that occurred last week, just calm. The only market-generated excitement this week may come from month end window dressing trades, particularly by the publicly traded firms whose quarters end on Friday. Next Tuesday is when the fun begins.