Mortgage Market Updates

	NY Times: California might join mortgage settlement
	From the NY Times: Deal Is Closer for a U.S. Plan on Mortgage Relief With a deadline looming on Monday for state officials to sign onto a landmark multibillion-dollar settlement to address foreclosure abuses, the Obama administration is close to winning support from crucial states that would significantly expa

	Greek talks end without agreement, will meet again on Monday
	From the Athens News: Lengthy and difficult negotiations A five-hour meeting between prime minister Lucas Papademos and the leaders of the three parties supporting the government ended without agreement on Sunday. Pasok leader George Papandreou, main opposition New Democracy party leader Antonis Samaras and Popular Orthodox Rally (Laos) party leader George Karatzafe

Recovery Measures

By request, here is an update to four key indicators used by the NBER for business cycle dating: GDP, Employment, Industrial production and real personal income less transfer payments.

Note: The following graphs are all constructed as a percent of the peak in each indicator. This shows when the indicator has bottomed - and when the indicator has returned to the level of the previous peak. If the indicator is at a new peak,

	Greece: Key meeting on Sunday
	From the Athens News: Crucial meeting of coalition partners The crucial negotiation of the coalition political party leaders over the EC-ECB-IMF troika's ultimatums and shock measures has been set for 13:00 on Sunday. In this new meeting of the leaders of three parties backing the interim government led by Lucas Papademos which will take place on Sunday, the

	AAR: Rail Traffic increased 0.1 percent YoY in January
	Earlier: • Summary for Week ending February 3rd • Schedule for Week of February 5th From the Association of American Railroads (AAR):

	Schedule for Week of February 5th
	Earlier: • Summary for Week ending February 3rd This will be a light week for economic releases. The key economic release is the December trade balance report to be released on Friday. Also on Friday Fed Chairman Ben Bernanke will speak to the National Association of Homebuilders: "Housing Markets in Transition".

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