Intraday Market Thoughts
Archived IMT (2008.09.25)
Sep 25, 2008 11:50
DOWNSIDE MARKET RISKS SOAR as GE suspends its buyback program and lowers its Q3 earnings. LIBOR Rates push up higher. Fed Chairman Bernankes economic testimony sounded off a clear focus on the downside economic risks away from the usual balanced focus on inflationary and downside risks. This further increases the ODDS OF A 50-bp INTERMEETING RATE CUT . The next FOMC meeting is 33 days away, which is far too long a period of time for the rapid deterioration in credit conditions such as rising LIBOR/TED rates, as well as negative corporate news such as this mornings GE news.
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