The market took a breather, which only served to cause more confusion among the players. Or maybe it was the result of the confusion. Did the market make a bottom or not? We saw an historic collapse in T-bill rates, while at the same time, the bid-to-cover ratio at today’s T-bill auctions was abysmal. Indirect bidders including foreign central banks took a hike and said no thanks. The combination of crashing rates AND weak demand is puzzling to say the least. And on top of it all, the Fed makes gestures to calm the markets but again today drained reserves in the face of a world wide liquidity/solvency crisis. A truly bizarre day! Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
What the hey is up with Wells Fargo, sytem wide outage is ACH and wire tranfers (at least for my incomming ACH). 30+ hours…..Information is very skimpy from the company, is this a bigger issue? Are you hearing anything?