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Friday, April 10, 2009

Fed Said to Order Banks to Stay Mum

The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.

The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for this month. Such a scenario might push stock prices lower for banks perceived as weak and interfere with the government’s plan to release the results in an orderly fashion later this month.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
18:00 Initial Jobless Claims 2 221K 235K 228K Revised from 227K
18:00 Retail Sales (MoM) 3 0.6% 0.1% -0.9%
18:00 Retail Sales Control Group 3 0.5% 0.2% Revised from 0.4%
18:00 Retail Sales (YoY) 1 3.9% 3.3%
18:00 Retail Sales ex Autos (MoM) 2 0.5% 0.3% -0.3%
19:30 Fed's Kugler speech 2
19:30 Business Inventories 1 0% 0%
19:30 NAHB Housing Market Index 1 33 32
20:00 EIA Natural Gas Storage Change 1 44B 53B
21:00 4-Week Bill Auction 1 4.235%
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