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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More
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  • Ben Bernanke on “60 Minutes” Defends QE2 0 comments
    Dec 6, 2010 11:42 AM
    Morning Notes
    -Somewhat quiet in global markets
    -Bernanke was on “60 Minutes” yesterday in which he was basically defending QE2; he said the Fed’s latest move is not to print money, but to buy US Treasuries to lower interest rates in an effort to stimulate the economy; expressed confidence in his control of the situation (basically that he could raise rates very quickly if he wants to); said fear of inflation is overstated
    -World indices mostly down small
    -Moody’s downgraded Hungary’s debt rating, which comes as no surprise
    -Dollar showing some strength this morning after recent weakness (last week)
    -Strength dollar has pushed futures lower this morning
    -S&P futures are down about 3 handles from FV
    -Commodities are up small
    -With no economic items on the calendar, today may make for a quiet day
    -Note that Obama is speaking in N.Carolina today; he will address tax cuts extensions and unemployment benefits

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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