Bernanke's Looking Sharp

[MattSF]

Quote from Pa(b)st Prime:

The issue is if he's going to take meaningful action, i.e. cut the Fund's rate, with the market at these levels. He isn't. By Friday the market will be retesting 1418. He'll never cut on a 1400 handle.

I agree. He's waiting for the next shoe to drop. I'd guess that shoe will hit the floor concurrent with a trade of 1350 to 1380 SPX.

 

[MattSF]

Quote from Sparohok:

Can you argue that it was material?

Last week there was an average of $10m/day lent out at the discount rate, obviously immaterial. We'll find out this week's numbers on Thursday and I'll bet it's less than $100m.

Martin

I've stated there is no action at the window. It was material in its impact on the equity markets.

 

[MattSF]

Quote from Sparohok:

Can you argue that it was material?

Last week there was an average of $10m/day lent out at the discount rate, obviously immaterial. We'll find out this week's numbers on Thursday and I'll bet it's less than $100m.

Martin

1.5B today.

 

[stock_trad3r]

I doubt he will cut more than 1/4 if anything. The fed isn't swayed by Wallstreet easily.