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The Easter-shortened financial week began on Sunday for the U.S., with the announcement of an emergency 25bps cut to the discount rate and the fire sale of Bear Stearns to JP Morgan at the used-goods price of $2/share, funded in part by the Federal Reserve and brokered in part by the U.S. Treasury. Other measures […]
Bold and creative liquidity initiatives by the U.S. Federal Reserve, backed by the European Central Bank and the Swiss National Bank, calmed financial markets for the first half of the forex trading week; however, meltdowns at multiple major financial institutions, including Drake Capital, Carlyle Capital, and Bear Stearns, sent global equity markets tumbling and forced […]
