It just might. But boy would that come as a suprise to everyone but stock tra3er because he knows how stocks work!
ES has hit its high of 1045 for this session... it should close around 910 during this session. Phantom short sellers will be blamed...
fixed income rallied all morning pre rate cut and sold off straight after the anouncement. looks like people knew in advance. co ordinated 50 bp rate cut and interest rate futures are signifcantly the other way. nice one ben
I don't know how Trichet slips under the radar without getting totally slated. The last move ECB did was a raise and not that long ago,now a panic 50bps cut.Surely this must go some way to demonstrate how little he understands what he is in charge of and how he doesn't have his finger on the pulse. Probably too busy poncing about over 3 hour lunches.
if the fed the last 7 years had done the work as the EZB was doing, we would not be in trouble when everyone in the world is cutting rates you cabt stay outside... but you will see, rate cut is for nothing, wont help
Could mark a swing bottom. But THE bottom is likely 2010 or later.... likely below the '02-'03, lows, too.
As Rick Santelli just said the rate cute was like shooting pellets at a charging rhino it has no effect!
Yea, I think it is useless in a functional sense. Futures were looking VERY ugly last night. So, I really think rate cut will work less and less.