Dovish Fed Comments Send Futures Soaring
Posted By Barry Ritholtz On November 23, 2009 @ 6:22 am In Currency,Federal Reserve,Markets | Comments Disabled
St. Louis Fed member Bullard said over the weekend that he favors extending the Fed’s program of purchasing mortgage-backed securities [1] beyond the 1st Q next year.
This adds many more months to the low rates for an ‘extended period of time.’ His comments have pummeled the US Greenback [2], and as the dollar fell, stock futures soared. Gold hit fresh record highs [3].
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Source: Bloomberg [4]
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Source: The Chart Store [6]
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2009/11/dovish-fed-comments-send-futures-soaring/
URLs in this post:
[1] extending the Fed’s program of purchasing mortgage-backed securities: http://online.wsj.com/article/SB10001424052748703819904574552223741631470.html
[2] pummeled the US Greenback: http://www.bloomberg.com/apps/news?pid=20601087&sid=ayaJXgqZHzjQ&pos=1
[3] Gold hit fresh record highs: http://online.wsj.com/article/SB10001424052748704779704574553001589994632.html
[4] Image: http://www.bloomberg.com/markets/stocks/futures.html
[5] Image: http://www.ritholtz.com/blog/wp-content/uploads/2009/11/11-20-09-Daily-DX.gif
[6] The Chart Store: http://www.thechartstore.com/
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