FOMC announces it will expand its December meeting to 2 days

[Daal]

This sounds HUGELY dovish
http://www.federalreserve.gov/newsevents/press/monetary/20081120a.htm

 

[gnome]

Monumental policy announcement to turn the prevailing psycho??

 

[Trendytrader]

They realized that they also need a bailout.

 

[nazzdack]

Quote from Daal:

This sounds HUGELY dovish.

Fed Funds AND Eurodollars at "par"!

 

[clacy]

Quote from Trendytrader:

They realized that they also need a bailout.

 

[Daal]

Quote from nazzdack:

Fed Funds AND Eurodollars at "par"!

yup. bernanke says the first thing the central bank need to do to fight deflation is to announce 'short-term rates will stay low for a long-time', guess the deferreds might gap nicely!

 

[Trendytrader]

Until the so called low rates flow through to relail rates e.g. Mortgages then nothing will change. I am ready to refinance to a 3% mortgage and to start spending the savings

 

[Daal]

Quote from nazzdack:

Fed Funds AND Eurodollars at "par"!

we are getting there

 

[bwolinsky]

Quote from Daal:

This sounds HUGELY dovish
http://www.federalreserve.gov/newsevents/press/monetary/20081120a.htm

Absolutely, did you think, "What other choice did they have"? What's a 0% interest rate environment like?

 

[bwolinsky]

Quote from Trendytrader:

Until the so called low rates flow through to relail rates e.g. Mortgages then nothing will change. I am ready to refinance to a 3% mortgage and to start spending the savings

Retail rates? I'm borrowing money on margin for securities at 7.5% right now, and I can't see that getting much lower.