Categories
Articles

Fed Auction: Rates Climbing

Hmmmm. This marks the second auction in a row in which rates have risen.

On April 21, 2008, the Federal Reserve conducted an auction of $50 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate: 2.870 percent

Total propositions submitted: $88.288 billion
Total propositions accepted: $50.000 billion
Bid/cover ratio: 1.77

Number of bidders: 83

If this is telling us anything, a 50 point cut at the next meeting is out. One could even make the argument a 25 is in doubt….

Right now the dollar should be a prevailing issue..

Todd Sullivan's- ValuePlays

↑ Grab this Headline Animator

Visit the ValuePlays Bookstore for Great Investing Books

Creative Commons License
This work is licensed under a Creative Commons Attribution 2.5 License.