Fed Cuts 50 = Crazy Day
Posted: Wed Jan 30, 2008 1:40 pm
Wow, that was quite the roller coaster. Futures showed that 50 basis point cut was expected and that's what happened. Markets spiked, but ended lower. Even XLF (spider that tracks financials) ended lower. If 125bps cut within a few weeks can't prop up financials for more than an hour or so then what can?
The market/addict keeps shooting up on rate cuts but each successive one has a smaller and smaller effect. Do we get the Gates of Hell now?
The market/addict keeps shooting up on rate cuts but each successive one has a smaller and smaller effect. Do we get the Gates of Hell now?