The ECB Is Concerned
This morning the ECB cut rates by 25 basis points. They are "meaningfully less restrictive".
PRE-OPEN MARKET COMMENTS THURSDAY - Many traders are confused by the notion of "bad news is good news". In the early stages of economic weakness the Fed will cut rates to stimulate job growth and economic activity. The market rejoices on "bad news" because Fed easing will turn things around. Don't be confused, bad news is bad news.
Daily Bulletin Continues...