and early.
The capital markets were moving to re-price risk categories. As I stated in the last post, beyond the initial euphoria of today, what will the logical interpretation of the Fed's surprise cut in the discount window rate today be?
I suppose we will have our answer monday, but this observer believes that the move will stoke suspicion that the capital markets (especially the credit markets, with CP rates blowing out today in spite of the cuts) are not as healthy as they appear an that a "calamity" may have arisen...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment