from blacklisted news/ap: Wall Street rebounded Monday after the Federal Reserve and other central banks added more cash to their banking systems, helping investors set aside some concerns about credit tightness.
The New York Fed, which carries out the central bank's market operation, minutes after the opening bell announced $2 billion in overnight repurchase agreements.
The Fed's "repo" follows a move by the Bank of Japan to put $5 billion into the markets and an addition by the European Central Bank of $65.3 billion; the ECB added more than $200 billion last week. The moves, following similar injections by the Fed last week, appeared to placate Wall Street for now and allowed it to look ahead to a week of fresh economic data. Since Thursday, the Fed has added $62 billion in liquidity...
"The environment we're in is really truly extraordinary. The best way for investors to view this is from a 30,000-foot view - to be positioned defensively and to continue to pay close attention to the U.S. economy and the consumer," said J. Michael Barron, chief executive of Knott Capital in Exton, Pa.
fair use notice: this site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. we are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, & social justice issues, etc. we believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US copyright law. In accordance with title 17 usc section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
No comments:
Post a Comment