All Commentary
Friday, September 23, 2011

Investors Underwhelmed by Fed Policy

“The Federal Reserve’s plan to buy longer-term Treasuries has succeeded in bringing down interest rates while not convincing investors the unorthodox monetary policy will strengthen economic growth. Stocks fell for a second day yesterday as investors sought safe assets after the Fed announced it would shift $400 billion of its Treasury securities holdings into longer-term debt. Treasury 30-year bonds rallied, sending yields to the lowest level in almost three years. The Dow Jones Industrial Average had its biggest two-day loss since December 2008.” (Bloomberg )

When will they admit they have no idea what they’re doing?

FEE Timely Classic
“And the Slump Goes On” by Angel Martín Oro