by Calculated Risk on 10/23/2005 10:50:00 PM

My most recent post is up on Angry Bear: This Week's Housing Data.

Also see David Jackson's first hand account: Washington, DC Area Update

The big stories of the week will probably be Wilma and the Fitzgerald announcement. Wilma is now a dangerous Category 3 hurricane:


Map from: Weather Underground

Radar Key West.

And some thoughts on the Fitzgerald investigation: Not to personify the markets too much, but there is an old adage: Wall Street is not Republican or Democrat, it is Capitalist!

And market participants hate uncertainty. Once the Fitzgerald announcement is made, uncertainty will be removed and the market will probably rally short term. This is true if there are no indictments, or just a handful of aides are indicted. Most people on Wall Street don't care about Libby or Rove.

If a large number of people are indicted or Fitzgerald harpoons the Great White Whale (Cheney), then all bets are off. However I think this is an unlikely scenario.

Best to all.