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.