Pretty big news here. I can't wait to see what's driving down 3 month treasury rates though. The system has plenty of liquidity. What's gotten hit too hard to pick back up? FED have anymore rate cuts in store? I suppose equity prices will drive that decision. Either way it's all a good time here in dart-board land lately
Last Sunday with all the BSC news, NY Fed came out and slashed discount rates a quarter point, opened up the Lending house for banks to borrow directly using crappy CDOs as collateral, and extended the loan repayment from 30 to 90 days. . All this done only 2 days day before its meeting.. wonder if they'll do anything this time,.. Lend directly to used car dealers? to us?? :eek:
This entire thread...this post...I thought the market was suppose to tank on this "news" ?! Did you genuises ever think that everyone already knows the troubles in the financial sector and that the downgrade is just an after-the-fact acknowledgement.
The indices will be up until around friday. You have to understand that the big money cycles in and out. They won't just dump after running the buy programs all day Thursday. Money cycles for 5-7 days.
Futures are roaring higher. This is out of control up 10 handles. Were rates cut to 1% already? Guess I should of been greedy on the long end for the carry over. Smells like another trap. Hopefully it can maintain itself until tomorrow morning and then get chopped up.
why is it that people who know nothing about program trading always believe that big moves are created by buy or sell programs? Also, that its just the flip of a switch and all the "big guys" work together to move the market up and then back.