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LLOYD'S WALL OF WORRY - Midsummer's fright
July 2007 can claim Dow 14,000 as its own, but the good times didn't last long.
July 2007 can claim Dow 14,000 as its own, but the good times didn't last long. The ride is getting bumpy: Mortgage woes won't subside, and a sputtering U.S. economy is placing more of the growth burden on our trading partners on the other side of the big blue marble. The wall moves up to 12 and seems to be rising. High on the list of things to fret about during your peaceful August are the myriad of esoteric financial instruments like leveraged loans, bridge loans and covenant-lite loans. Their demise might shake up the markets a bit while offering some buying opportunities we haven't seen in a while.