28
Jan
10

the fed spaketh…but i don’t believeth

FOMC meetings adjourned today announcing their announcements but some had hoped the Fed would announce an extension of their MBS buying past 1Q2010.  They said they wouldn’t.  Rates began to rise today after the announcement.

This cowboy says they’re playing it cool.  This cowboy says on March 26th (a Friday) they’ll announce a temporary extension of purchases through maybe about 90 days.

If that happens, rates will drop 1/2% in one day.  For a few weeks, anyway.

That’s my story and I’m sticking to it.

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