Wall Street Manna

An irreverent look at Wall Street

Monday, December 10, 2007

The Fed tomorrow

Does anyone think that the $12 billion invested in the financials today were done in a vacuum with the Fed meeting tomorrow? Most assuredly, the discount rate will be cut at least 25 basis points more than the Fed funds. And I've already made my position clear on how much the Fed will cut tomorrow.

You just need to buy the financials.

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