Where’s the Party?
30th January 2008
The Dow got whipsawed today after the Fed announcement. After rallying up to almost 200 points, the Dow spent the last hour diving, finishing down 40. Currently after-hours, its down another 100. The Fed has put on their party hats and spiked the punch but no one has joined the party. The VIX squeeked out a small .30 gain. The Bond market went crazy as expected after the announcement with the yield curve steepening and the craziness continuing tonight.
The real scary question is…
Now What?
- BA