Friday, August 26, 2011

Did Bernanke just tell ECB to cut rates??

I am reading through the speech and can not stop thinking that Fed Chairman just told ECB to deal with their mess. They have been too tight and slow to understand what damage they did to their economy. We get a speech from Trichet tomorrow. I am seeing a very interesting disconnect between Euro and SPX this morning, in the last 30 minutes. It looks like market is betting on a cut in Europe, albeit a "gradual" one.

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