Fed Signals Further Easing Possible

Financial markets rebounded yesterday as the Fed signaled more stimuli on hand. This temporarily upstaged sovereign debt problems in the Eurozone. Wall Street advanced with DJIA and S&P 500 gaining +1.53% and +1.61% respectively. However, there was only modest narrowing in peripheral yield spreads. In the commodity sector, WTI crude oil fluctuated between 90.97 and 93.79 as price was torn between continued deterioration in macroeconomic outlook and hopes that further Fed easing would boost growth.

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Fed Signals Further Easing Possible