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What happened at the Fed meeting?
Wednesday, January 28, 2009
We are somewhere in Northern California right about now, heading south, finally on our way back home.
Naturally, the timing of this return was poor in that it coincided witht he Fed's monetary policy announcement that occurred about a minute ago.
Oh well...
Did anything interesting happen? Are short-term rates going negative? How many more initiatives were announced in the never-ending attempt to rescue the financial system from itself?
2 comments:
The Fed is “prepared to purchase longer-term Treasury securities if evolving circumstances indicate that such transactions would be particularly effective in improving conditions in private credit markets,”
Link.
Rumored, now true.
30 year govvy yield is up 20 bps from y'days close, the market is starting to call the Fed and Treasury's whole "plan" bullshi7. It's gonna unwind, look out below.
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