Observations for the close of week 19 continue the trend of mixed data, causing a growing sense of uncertainty leading into the end of QE2.

The dollar did get a bonus when the ECB made it abundantly clear that they would not raise rates at the next meeting. Not to mention, sovereign risk is back in focus with new rumors swirling around Greek debt.

The week also saw a rise in unemployment insurance claims, but then far more jobs were created then initially anticipated. Quietly though, the unemployment rate increased to 9%.

Want more? Mortgage rates have fallen further on continued weakness in housing, but treasury yields increased across the board.

Have to give this one some more thought; clearly a very conflicted environment, struggling for direction.