We Have A Date Tomorrow With Uncle Ben!!!

[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:

Dow: +2.18%

S&P: +2.42%

Russell: +1.45%

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.

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