Sunday, March 16, 2008

Fed Cuts Discount Rates and Takes Wider Junk Collateral

The Fed has cut the discount rate to 3.25 from 3.50.  The fed will take wider range of "Investment Grade" collateral.
The dollar is dropping Fast!  Yen is at 97.22!  Gold futures up at 1017!
It's going to be an interesting day tomorrow.

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