10 Aug 2001 Appearing in this Brief
Posted at 13:52h in The Friday BriefAs I write this letter, the market is falling rather dramatically. It was triggered by the PPI release this morning which was down considerably below expectations, primarily on falling energy prices. Since then, the newswires show that 50 U.S. and British aircraft have attacked three Iraqi military targets. Given the recent terrorist and military hostilities in Israel, the market undoubtedly fears worse trouble in the Middle East.