Throughout the day, the U.S. indexes traded in narrow range, balancing between conflicting signals, which gives the U.S. economy. On the one hand, the data indicated a slowing pace of decline in real estate prices, which suggests the stabilization of the situation in the troubled sector of the American economy. SP Case Shiller index showed a weak recovery in real estate prices in May in 13 of the 20 United States metropolitan areas. On the other hand, the continued decline in consumer confidence (Conference board index fell to 46.6 on) and the growing uncertainty of consumers in the preservation of jobs suggest that recessionary processes have not yet been overcome and in 2009-2010 in the American economy will have to deal with a record Low domestic consumption and high unemployment.

Corporate statistics are not encouraging of optimism in investors. Deutsche bank beat expectations of experts, showing 68% priros profit in the second quarter, but shares of the Bank is still down because of fears of growth of overdue debts. Reporting BP also exceeded expectations due to paper income, but nevertheless reflected a 53% drop in profits due to the collapse in the oil market.

The pressure on the stock market continues to lean to a primary record in the market treasuries, which has become a major factor, but not the reason behind the exodus of capital from risky assets. The volume of placements treasuries this week is $ 215 billion, which almost corresponds to program the Fed to purchase securities before the end of the year. While it is the expectations of today's entry into the market the Fed to hold Treasury securities yield treasuries at quite high levels. However, support for the Fed may not be comparable to the volume of securities put up for auction today and tomorrow ($ 67 billion). Apparently, due to the outflow of capital leading global stock indices could lose about 2,5-3% in the week.

The outflow of capital from risky assets has led to record profits in the Asian markets. Index MSCI Asia falls for the first time in 11 days (-0.6%). Growth in Japan, supported by increases in the recommendations on a number of shares, opposes the fall in Hong Kong at 1.7%, China (-1.7%), Australia (0.5%) and Korea (-0.3%).

from correction in the market of raw materials are most affected stocks of oil companies and representatives of non-ferrous metallurgy. However, the largest steel company, by contrast, continues to grow with the support of a strong accountability

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