Article

2008-10-08 Home Front Economy

Fed leads global coordinated rate cut, eases by 1/2 point

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by ed 2008-10-08 07:17|| || Front Page|| [1 views ] Top

#1 Global rate cuts lift futures but off highs
S&P 500 futures SPc1 rose 23.20 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc1 climbed 139 points and Nasdaq 100 NDc1 futures gained 31 points.

The interbank cost of borrowing overnight dollars jumped again on Wednesday, indicating that credit markets remained gridlocked, according to the latest daily fixing from the British Bankers' Association, just before coordinated interest rate cuts.

Still having liquidity problems. I think the Fed's plan yesterday to provide working capital loans to businesses is the smartest thing the government has done yet to prevent the economy grinding to a halt.

Posted by ed 2008-10-08 08:25|| 2008-10-08 08:25|| Front Page Top

23:57 Betty
23:35 Procopius2k
23:30 SteveS
23:26 Old Patriot
23:21 Frank G
23:08 JosephMendiola
23:08 DMFD
23:03 Barbara Skolaut
22:54 JosephMendiola
22:47 DMFD
22:47 JosephMendiola
22:40 DMFD
22:39 DMFD
22:39 The Sanity Inspector
22:37 The Left
22:31 Frank G
22:30 DMFD
22:20 logi_cal
22:18 Sninesh Prince of the Hatfields5789
22:18 Bobby Fischer.
22:17 Tyranysaurus Snart3464
22:14 Mike N.
22:13 Mike N.
22:12 Grunter