A summary of the markets, relief bill details, tax changes, and green shoots!
Last evening the Senate failed to pass the massive stimulus bill that we have all been waiting on. And I could swear that when I saw this, I thought I was waking up in the fall of 2008 all over again…. Surely the politicians remembered the lessons from 2008 when they failed to pass theContinue reading “It’s Déjà vu All Over Again”
Well the destruction continued this week on Wall St., and simply put, what started out as a health crisis has turned and caused a financial one. Why have the markets been going crazy despite some movement in legislation? Well, it’s the internals of the markets – things like commercial paper, overnight window use, etc.; theContinue reading “You Can’t Start a Fire Without a Spark…”
Sunday the Federal Reserve took the extraordinary measure of cutting the federal funds rate to 0 – .25%. Along with other steps. The markets subsequently sold off as soon as the futures markets opened at 6PM E.S.T. Sunday, as they interpreted the move as a move indicative that things were worse than they were. Normally,Continue reading “What the Fed Just Happened?”