The outlook for equity markets in 2010 is as muddled as ever after a year that only can be described as enigmatic. Equities had one of the best runs ever off of the March 2009 low, but it sure didn’t feel bullish or that we were in the midst of a recovery. Once there were actual signs of recovery, the market corrected.
[Read more...]Fed Raises Discount Rate
February 19, 2010 By Leave a Comment
Front and center this morning… I’m sure you all heard that the Fed, in a surprise move, raised their discount rate 1/4 point to 0.75%… This really put the currency guys in a tizzy, and they began to earnestly buy dollars the rest of the day… They went at it hard, and didn’t stop until the euro (EUR) was sitting around 1.3475.
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Alan Greenspan Shows Results That Speak for Themselves
William Tell’s precision archery and noble fighting spirit served him well in his efforts to fend off the Austrians and to help him found the Swiss Confederacy that would give birth to the nation of Switzerland.
Alan Greenspan’s interest rate targeting… not quite so accurate.
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