Taken together, last week’s economic reports raised concerns about the sustainability of the recovery. While our view remains that the economic recovery that began in Q3 2009 is sustainable and will persist into 2010 and beyond, the market began to doubt that view after a mixed week of economic data.

The sustainability of the recovery, and more importantly, the health of the albor market will be at the forefront of debate this week amid a very busy (and meaningful) weak of economic data. This week begins with the release of nonfarm payroll job report for October on Friday. In between, markets will digest key reports on housing sales, vehicle sales, chain store sales, and construction spending. Throw in the FOMC meeting, and the market will be just as overwhelmed by the economic calendar this week, as it was by the busy calendar over the past two weeks.

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