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Signs of continuing panic
Posted: Thu Nov 06, 2008 9:05 am
by annarborgator
Bank of England cut 150 bps today....market was expecting 100 at MOST...futures have been down on the american markets after most of Europe traded down 2-6% earlier today.
People are saying they've never seen a rate cut like this...interesting times indeed.
Signs of continuing panic
Posted: Thu Nov 06, 2008 10:37 am
by radbag
they were behind the world to begin with...this, albeit a drastic and panic-message-sending action, gets them closer to where they need to be.
now then, do you see that higher than expected cut to be catching up or do you see that to be that the central bank is privy to more negative news and that it's heading it off at the pass...you'll have 2 market participants trading off both ideas and THAT my friends makes a market.