So much for jawboning and “happy talk” since we’re back to the yo-yo environment once again. The Fed really doesn’t have much left it can do to help the economy. They want to sell not buy more mortgage backed securities and interest rates are already next to nothing. The administration can’t help housing further as the stimulus credit expires and new mortgage applications are already dropping like a stone.
Perhaps it’s something else bothering markets. How about a potential BP bankruptcy filing? Or, Germany’s Merkel’s suggestion it’s time to withdraw stimulus just as economic conditions in the eurozone are weak? Whatever it is, it has the herd spooked. And, even short-term trading is difficult day-to-day. A lot of investors.....READ MORE!
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