Michael Cloherty
Michael Cloherty
average below effective exists funds percent rate softer throughout
Yesterday, the Fed's effective funds rate, the average of the funds rate that exists throughout the day, was 1.25 percent, way below their new 3 percent target. Today, it's even softer than that, below 1 percent.
bail fed investors leverage people prices saying system
At these prices right now, people are saying the Fed is going to have to do more to bail out the system for investors to take on leverage again.
absorb auction backdrop bonds equity lends looking market negative
Bonds are looking at equities. The equity market has stabilized after yesterday's tumble and the auction lends a negative backdrop because the market has to absorb more supply.
value yields
Yields have cheapened up, but if the Fed's going to go further, they still may not have value at that level.
decline equity european following happen huge markets stocks
There is a lot of following stocks around today. That was the big thing after the huge decline in the European equity markets - there was a lot of nervousness about what would happen in the U.S.
behind factor main
The real has been the main factor behind this rally.