4 replies to this topic

[S.I.M.O.N.]

>>Fed is about to cut 0.5% (check IRX)- how about that news?<<

scroll down on this link
greenie call
we have had our differences in the past, i apologize, this was simply an awesome call,
good work

[arbman]

HAH! I saw the same thing yesterday, but never thought that they would be doing it. I commented about the steeper yield curve yesterday all of a sudden. Now we know!

[swingtrader]

what is IRX? Thanks. ST

[greenie]

Thanks. Good to know that we have a chance to be on the same side during the Kaliphonia civil war after the crash

IYB was also expecting a cut. He is in the mortgage industry. Maybe he was praying for it too.

Now, more seriously, when I look at the 1 month rate at the US treasuries,

http://www.ustreas.g...ate/yield.shtml

the rate yesterday was >1.5% below the beginning of the month or what we had for last 1 year. 1 month rate is almost the same as the treasury rate. Does the market expect another three morning surprises?

[IYB]

Thanks. Good to know that we have a chance to be on the same side during the Kaliphonia civil war after the crash

IYB was also expecting a cut. He is in the mortgage industry. Maybe he was praying for it too.

Now, more seriously, when I look at the 1 month rate at the US treasuries,

http://www.ustreas.g...ate/yield.shtml

the rate yesterday was >1.5% below the beginning of the month or what we had for last 1 year. 1 month rate is almost the same as the treasury rate. Does the market expect another three morning surprises?

Incredible call Greenie! You nailed it. My comments have been far less specific in terms of timing than yours. My point has been and remains that we give the Fed far too much credit-as if they are the puppetmasters of our economy, when, in reality, the opposite is true. The boys at the Fed are the puppets. What they do is mandated by the economic cycle and the markets. In the end, in spite of all their huffing and puffing, they have absolutely no choice. Btw, I hope people realize that when the Fed starts cutting is absolutely NOT a time to get all bulled up in the big picture of things, but that's another story for another day....

"The inevitable march towards lower rates continues...."