So they went with 75 basis points (that’s three-quarters of a percentage point to you and me). Big, but slightly less than markets were expecting. Which would seem to mean that Bernanke & Co. are convinced that the economy really is in a recession now, but would prefer not to be seen as entirely doing [...]
Goldman and Lehman reported better-than-expected results this morning, stock markets opened on a decided upswing, and “the iTraxx Europe, which measures the cost of protecting 125 investment-grade credits against default, fell about 17 basis points to 143bp.” (No I don’t entirely know what that means either, but it sounds good.) Which means we probably don’t [...]
