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Strategies & Market Trends : ahhaha's ahs

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From: ahhaha	11/2/2011 4:10:13 PM
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Stock market discounts the future or reacts to sudden changes in expectations? Well, FED lowered their 2 year GDP growth outlook by a huge 1%, 1 year by .8%, and six months .6%. Market traders bought. Must be they don't believe FED except when price confirms their prejudices. Well, the Greek 2yr sovereign bond raced to 97% yield today which starts a credit event in that Greece has de facto defaulted. Once it passes 90% the CDS are called. Traders don't care. These considerations already have been discounted, they think. No, they haven't.

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