[The Fed] “might reference recent market movements by talking about the ongoing repricing of risk….”
– Drew Matus (subscription required), Senior Economist, Lehman Brothers
Well aren’t we just so excited about seeing Uncle Ben tomorrow!!! I mean would you look at that:
But, let’s be honest: mightn’t we have played it a little cooler? Ya know, hard to get? What ever happened to modesty!!!??? I mean it’s SO obvious what we’re thinking:
S&P Financials (XLF): +5.12%
S&P Utilities (XLU): +3.14%
I mean we sure are putting Uncle Ben on the spot: the rise in financials and utilities means markets are expecting Uncle Ben to throw us a bone tomorrow and make reference to the ongoing turmoil in the credit markets.