Prepared by

The Nikko Securities Co. International, Inc.

Tight labor conditions once again pared weekly jobless claims (in the October 4 week). New unemployment claims totaled 304,000 compared with 309,000 a week ago. The number of claimants receiving benefits rose by 19,000 in the September 27 week. Still, the claimants level is below that of a month ago. The ABC/Money Consumer Comfort Index continued its retreat, falling to +7 from +10. The index has fallen from a record high of +13 to the current +7 reading in 3 weeks. Less optimistic assessments of the national economy were largely behind the drop in confidence. The volume of mortgage applications for purchases rose marginally, to an index level of 220.0 from 217.0. Refinancing activity was stronger as the index climbed to 728.2 from 691.5. Freddie Mac's average 30-year fixed mortgage rate fell by 5-basis points this week, to 7.26% from 7.31%.

Robert A. Brusca, Chief Economist

The Nikko Securities Co. International, Inc.

One World Financial Center, Tower A

200 Liberty Street, New York, New York

Consensus National Futures and Financial On Line Index | Financial Commentary Index

Commodity Futures Forecast Weekly Report
Ripe For Change. . . | Dean Witter Futures Commentary
Economic Perspective | Cash Steady As Futures Collapse
A Dose Of Reality Hits The Treasury Market
U.S. Economic And Interest-Rate Outlook
Myers On Futures | Strategy For The Month
By Doing Nothing, Is Fed Policy Really Getting Tighter?
Interest Rate Watch | The Sovereign Advisor
Strategy Focus | The Copper Journal | Weekly Outlook
Nikko Market Comments | Nothing's Right When The Economy's Too Tight

Hosted by:
One Crossroads Place
610 West Maple Ave, Suite WWW
Independence, MO 64050
(816) 252-4080
sysop@kcmo.com

wmeubank@ocp.kcmo.com