Stepping In Front of the Steamroller
December 17, 2008 at 06:05 AM EST
Markets have suddenly become moderately interesting again (though they remain bum-clenchingly illiquid), helped along by yesterday’s Fed announcement of quasi-ZIRP and quasi-quantitative easing. Perhaps Macro Man is alone in this sentiment, but he didn’t actually see much new news in yesterday’s announcement. Sure, the target Fed funds rate was a bit lower than folks expected, but [...]