Thursday, December 04, 2008
British Pound Could Rise Even If the Bank of England Slashes RatesThe
outlook for the British pound looks dim as the Bank of England is
widely anticipated to follow up their October 8 and November 6 rate
cuts with yet another aggressive reduction on Thursday morning.
Currently, the markets
are betting on a 100bp cut to 2.00%, which would bring the Bank Rate
its lowest level since 1939. However,... [read more]
Thursday, December 04, 2008
Market
turns occur at sentiment extremes and there is nothing more indicative
of a sentiment extreme than a market story featured on a magazine
cover. A few issues back, the Economist magazine cover read, "All You
Need is Cash". This cover came in response to the across the board
liquidation in assets / subsantial increase in value of cash (which is
on the other side of every trade). The... [read more]
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