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Fed. 14day RP + 5.00B [Flat sofar
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Nice Win !!
Fed.1day RP + 3.00B [All Giveth ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
W@G2 QQQQ 05/14/08 for a 05/16/08 close
50.00 rayrohn
49.77 bob3
48.00 frenchee
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Solar products makers rise on tax credit optimism
Tuesday May 13, 11:00 am ET
Improving prospects for extension of investment tax credit lifts solar products makers' shares
http://biz.yahoo.com/ap/080513/solar_sector_snap.html?.v=1
NEW YORK (AP) -- Shares of solar products makers rose Tuesday on improving prospects for a continuation of an investment tax credit that has encouraged investment in the industry.
Citi Investment Research analyst Timothy M. Arcuri, writing in a client note, said his "contacts indicate the House Ways and Means Committee is likely to propose a new bill that will extend most of the credits for at least several years -- longer than the one-year extension that has been discussed to date. The House is hoping to pass a bill before the Memorial Day recess."
OT; Out for Dr. appt am /e
Capstone Turbine rises as Merriman begins at 'Buy'
Monday May 12, 11:24 am ET
Capstone shares climb sharply as Merriman initiates at 'Buy,' predicting microturbine adoption
NEW YORK (AP) -- Shares of Capstone Turbine Corp. gained sharply on Monday after a Merriman Curhan Ford analyst started the company with a "Buy" rating, predicting widespread adoption of its low-emission microturbine technology.
Its stock gained 21 cents, or 7.2 percent, to $3.16. Earlier in the session, shares climbed to a fresh 52-week high of $3.19.
In a note to investors Monday, Jesse T. Herrick lauded Capstone's microturbine power generators, which use a variety of fuels to generate "clean, dependable" power for stationary locations or hybrid vehicles, he said.
Herrick predicted low-emissions power generation will likely outpace "ultra-clean" alternatives such as solar and wind power due to capacity constraints and dependence on subsidies, making Capstone's products poised for wide adoption as the demand for cleaner power generation increases.
Additionally, Herrick noted the company has begun taking pre-orders for its new, higher capacity models, which he expects will allow the company to expand into wider markets.
Herrick predicted the Chatsworth, Calif., company would post a loss of 24 cents per share in 2008, and a narrower loss of 14 cents per share the following year. Analysts polled by Thomson Financial expect a 2008 loss of 23 cents per share, and a 2009 loss of 15 cents per share.
The stock has more than tripled from a 52-week low of 86 cents last May.
Fed. 1day RP + 3.00B [Net Drain -0.50B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
W@G1 QQQQ 05/12/08 for a 05/14/08 close
47.95 bob3
47.50 rayrohn
47.00 frenchee
Futures (2) + World Indices
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Do Oil, Gold Sniff a War?
By: Rick Ackerman, Rick's Picks
Posted Sunday, 11 May 2008 | Digg This Article | Source: GoldSeek.com
Rick’s Picks
Monday, May 12, 2008
“Phenomenally accurate forecasts”
Unless your were trading oil futures on Friday, the markets might have seemed pretty dull. A barrel priced for June delivery hit a new record high of 126.27, and we shudder to think what that might mean at the pump. So, what has been driving crude’s spectacular rise? Until a few weeks ago, there was a simple answer to that question: the dollar’s decline. Oil producers and traders were simply repricing fuel to compensate for the dollar’s shrinking purchasing power. However, since mid-March, both oil and the dollar have been moving higher, with the dollar gaining about 5% during that time, oil about 25%.
The latter really began to take off a week ago, and it would now appear that the supposed civil war in Lebanon is the reason. We say "supposed" because that’s the way the news media have characterized it – as an escalating battle between the Lebanese army and Hezbollah militiamen backed by Iran and Syria. But while Hezbollah has been trying to oust the pro-Western government of Prime Minister Fouad Siniora for 18 months, the current, major escalation of violence holds serious implications for the entire region.
Photo Courtesy of Bloomberg
Our Berkeley-based colleague Larry Amernick offers a timely perspective on the conflict in his latest newsletter, a biweekly with a global point of view that is geared toward traders and investors. (Click here for a free sample.) Because the picture we get from Larry is quite different from the one the major news outlets are describing, we will quote him at length:
"The major media outlets have so far ignored this vital and important story. What triggered the violence was Hezbollah’s blatant attempt to create a ‘state within a state.’ Recently, Iran shipped and was attempting to install a modern communication and surveillance system for Hezbollah. The Lebanese central government saw this as a strategic threat to its sovereignty.
Beirut as ‘Iranian Port’
"For the last two days, gun and grenade fire could be heard all over Beirut. Both sides were trying to control the airport. Strategically, Iran is attempting nothing less than the takeover of a Mediterranean port. Hezbollah is a creation of Iran and takes its orders directly from Teheran. For its part, Syria has remained conspicuously silent during the conflict. In response, NATO has been moving sizable naval forces to the area and the U.S. just added the Abraham Lincoln carrier group to its forces in the Persian Gulf. Additional naval forces that could be headed to the region are currently involved in the Myanmar rescue operation.
"The wild card in this version of the ‘great game’ is Israel. Next week, the nation will celebrate its 60th birthday. President Bush, as well as many other heads of state, will be in attendance. At the same time, Palestinian groups in Lebanon have threatened to send over 100,000 people to tear down the Israeli-Lebanese border so they ‘may return to their former homes.’
Gold Barometer
"Hezbollah may provoke an Israeli reaction by firing over the border during this staged event. At the same time, Hamas may send thousands of its supporters to attempt to break through Israel’s southern borders. Again, Iran is the mastermind of this scenario. While attention is focused on Israel, Iran will use the turmoil to consolidate its hold on Lebanon. Control of the Eastern Mediterranean is Iran’s goal and the recent sharp increase in the price of oil is the reaction to this brewing crisis. The outbreak of war in Lebanon has also contributed to a rally in Gold, which is a barometer of fear."
For our part, we’ve been predicting that the price of oil will reach a potentially important high near $131 (basis the June futures contract. The Amernick Letter expects a top at 129.66 followed by a correction to 105.50.) However, if the shooting match in Lebanon continues to escalate, we would not be surprised to see quotes for oil and gold climb above these targets. Please note that our minimum projection for the latter – again, basis the June contract – is 902.50.
***
Do Oil, Gold Sniff a War?
By: Rick Ackerman, Rick's Picks
Posted Sunday, 11 May 2008 | Digg This Article | Source: GoldSeek.com
Rick’s Picks
Monday, May 12, 2008
“Phenomenally accurate forecasts”
Unless your were trading oil futures on Friday, the markets might have seemed pretty dull. A barrel priced for June delivery hit a new record high of 126.27, and we shudder to think what that might mean at the pump. So, what has been driving crude’s spectacular rise? Until a few weeks ago, there was a simple answer to that question: the dollar’s decline. Oil producers and traders were simply repricing fuel to compensate for the dollar’s shrinking purchasing power. However, since mid-March, both oil and the dollar have been moving higher, with the dollar gaining about 5% during that time, oil about 25%.
The latter really began to take off a week ago, and it would now appear that the supposed civil war in Lebanon is the reason. We say "supposed" because that’s the way the news media have characterized it – as an escalating battle between the Lebanese army and Hezbollah militiamen backed by Iran and Syria. But while Hezbollah has been trying to oust the pro-Western government of Prime Minister Fouad Siniora for 18 months, the current, major escalation of violence holds serious implications for the entire region.
Photo Courtesy of Bloomberg
Our Berkeley-based colleague Larry Amernick offers a timely perspective on the conflict in his latest newsletter, a biweekly with a global point of view that is geared toward traders and investors. (Click here for a free sample.) Because the picture we get from Larry is quite different from the one the major news outlets are describing, we will quote him at length:
"The major media outlets have so far ignored this vital and important story. What triggered the violence was Hezbollah’s blatant attempt to create a ‘state within a state.’ Recently, Iran shipped and was attempting to install a modern communication and surveillance system for Hezbollah. The Lebanese central government saw this as a strategic threat to its sovereignty.
Beirut as ‘Iranian Port’
"For the last two days, gun and grenade fire could be heard all over Beirut. Both sides were trying to control the airport. Strategically, Iran is attempting nothing less than the takeover of a Mediterranean port. Hezbollah is a creation of Iran and takes its orders directly from Teheran. For its part, Syria has remained conspicuously silent during the conflict. In response, NATO has been moving sizable naval forces to the area and the U.S. just added the Abraham Lincoln carrier group to its forces in the Persian Gulf. Additional naval forces that could be headed to the region are currently involved in the Myanmar rescue operation.
"The wild card in this version of the ‘great game’ is Israel. Next week, the nation will celebrate its 60th birthday. President Bush, as well as many other heads of state, will be in attendance. At the same time, Palestinian groups in Lebanon have threatened to send over 100,000 people to tear down the Israeli-Lebanese border so they ‘may return to their former homes.’
Gold Barometer
"Hezbollah may provoke an Israeli reaction by firing over the border during this staged event. At the same time, Hamas may send thousands of its supporters to attempt to break through Israel’s southern borders. Again, Iran is the mastermind of this scenario. While attention is focused on Israel, Iran will use the turmoil to consolidate its hold on Lebanon. Control of the Eastern Mediterranean is Iran’s goal and the recent sharp increase in the price of oil is the reaction to this brewing crisis. The outbreak of war in Lebanon has also contributed to a rally in Gold, which is a barometer of fear."
For our part, we’ve been predicting that the price of oil will reach a potentially important high near $131 (basis the June futures contract. The Amernick Letter expects a top at 129.66 followed by a correction to 105.50.) However, if the shooting match in Lebanon continues to escalate, we would not be surprised to see quotes for oil and gold climb above these targets. Please note that our minimum projection for the latter – again, basis the June contract – is 902.50.
***
Note PR from northern friends it may
run a bit...so put on watch list any momo early with 1 finger on sell quick. BTW keep this quiet till we both are in <ha ha>
Fed. Ops: 28.25B Matures this week.*
Mon: 3.25B 3day
Wed: 20.00B 28day
Thu: 5.00B 14day
================================================
Temp Ops:
Perm Ops:
========================================================
Public Debt:
Limit ~ $9,815 T
5/08 ~~ $9,364 T
=========================================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
===========================================================
*The difference between a million, a billion and a trillion
Courtesy....nlightn from USA Today, OT: if it offends anyone
l will remove it.
#msg-29017156
Coeur Alaska Announces U.S. Forest Service Decision to Complete Environmental Assessment for Kensington Gold Mine Modified Plan of Operations
Fri May 9, 10:01 PM
http://ca.news.finance.yahoo.com/s/09052008/34/biz-finance-news-coeur-alaska-announces-u-s-forest-se...
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Coeur d’Alene Mines Corporation (NYSE: CDE) (TSX: CDM.TO) (ASX: CXC.AX) said today that the U.S. Forest Service has evaluated public and agency comments submitted on the Draft Supplemental Information Report for the Kensington Gold Mine in Alaska. Based on the responses and agency input, the Forest Service has announced that an Environmental Assessment (EA) is the preferred level of review, which could allow for a conclusion of permitting for an alternative tailings facility later this year. Construction of the mine and mill is essentially completed except for the tailings facility.
“We appreciate the timely review of the Modified Plan of Operations by the Forest Service. The EA process will provide a well-defined and timely permitting pathway for the paste tailings plan,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. “Coeur is now confident the environmental review process can be completed in 2008, allowing Kensington to be brought into production in 2009.”
The draft Supplemental Information Report (SIR) prepared by the Forest Service supported the technical soundness of the paste tailings plan. The site selected for constructing the paste tailings facility in the Modified Plan of Operation is the same site as was studied for locating the dry tailings facility earlier, but is smaller and involves less area disturbance. It also requires less energy than the dry tailings facility. A Supplemental Environmental Impact Statement was prepared for a dry tailings facility at the same site in 1997.
In a separate press release issued last week, the Southeast Alaska Conservation Council indicated their support for the paste tailings plan as a preferred alternative over the dry tailings facility. Coeur and SEACC collaborated in developing the new plan. The plan, supported by over 900 studies, includes an environmental monitoring component and extensive reclamation requirements.
Kensington is a major gold project located about 45 miles northwest of Juneau with an estimated annual production profile of approximately 140,000 ounces of gold. Construction of all surface facilities, except for the tailings facility, is essentially completed. In addition, the almost 3-mile horizontal access tunnel has been constructed. The tunnel connects the Jualin mine site, where the plant and mill are located, and the Kensington ore body. Proven and probable reserves measure approximately 1.4 million ounces of gold.
Coeur Alaska Announces U.S. Forest Service Decision to Complete Environmental Assessment for Kensington Gold Mine Modified Plan of Operations
Fri May 9, 10:01 PM
http://ca.news.finance.yahoo.com/s/09052008/34/biz-finance-news-coeur-alaska-announces-u-s-forest-se...
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Coeur d’Alene Mines Corporation (NYSE: CDE) (TSX: CDM.TO) (ASX: CXC.AX) said today that the U.S. Forest Service has evaluated public and agency comments submitted on the Draft Supplemental Information Report for the Kensington Gold Mine in Alaska. Based on the responses and agency input, the Forest Service has announced that an Environmental Assessment (EA) is the preferred level of review, which could allow for a conclusion of permitting for an alternative tailings facility later this year. Construction of the mine and mill is essentially completed except for the tailings facility.
“We appreciate the timely review of the Modified Plan of Operations by the Forest Service. The EA process will provide a well-defined and timely permitting pathway for the paste tailings plan,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. “Coeur is now confident the environmental review process can be completed in 2008, allowing Kensington to be brought into production in 2009.”
The draft Supplemental Information Report (SIR) prepared by the Forest Service supported the technical soundness of the paste tailings plan. The site selected for constructing the paste tailings facility in the Modified Plan of Operation is the same site as was studied for locating the dry tailings facility earlier, but is smaller and involves less area disturbance. It also requires less energy than the dry tailings facility. A Supplemental Environmental Impact Statement was prepared for a dry tailings facility at the same site in 1997.
In a separate press release issued last week, the Southeast Alaska Conservation Council indicated their support for the paste tailings plan as a preferred alternative over the dry tailings facility. Coeur and SEACC collaborated in developing the new plan. The plan, supported by over 900 studies, includes an environmental monitoring component and extensive reclamation requirements.
Kensington is a major gold project located about 45 miles northwest of Juneau with an estimated annual production profile of approximately 140,000 ounces of gold. Construction of all surface facilities, except for the tailings facility, is essentially completed. In addition, the almost 3-mile horizontal access tunnel has been constructed. The tunnel connects the Jualin mine site, where the plant and mill are located, and the Kensington ore body. Proven and probable reserves measure approximately 1.4 million ounces of gold.
EZ, Today's Gasoline Prices. Automatically Updates.
http://zfacts.com/p/48.html
can't post on ur Big Board, but check u out tips ;>)
Frenchee Congrats on ur twins!
Happy Mothers Day to all Moms!
Happy Mothers Day to all Moms!
There it go's off with thee head./e
USDA: Wet weather slowing corn planting
Friday May 9, 1:29 pm ET
USDA report: Wet weather throughout Midwest slowing corn planting most since 1995
DES MOINES, Iowa (AP) -- The U.S. Department of Agriculture expects corn production this year to be down 7 percent from the record breaking heights of 2007.
The report released Friday projects about 12 billion bushels of corn will be harvested this year. About one-third of that amount will be directed toward ethanol production.
Wet weather has slowed corn plantings, causing the greatest delay since 1995. The USDA reports that only 27 percent of the nation's corn crop had been planted through May 4.
The report is unwelcome news for those looking for relief in corn prices. The crop's price has skyrocketed over the last year to more than $6 a bushel, amid an ethanol boom and more demand for exports.
Fed.3day RP + 3.50B [More Drain -6.75B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Fed.3day RP + 3.50B [More Drain -6.75B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
NYT article on AIG losses:
http://www.nytimes.com/2008/05/09/business/09insure.html
Bad Investments and a $7.8 Billion Loss at A.I.G.
By MICHAEL M. GRYNBAUM Published: May 9, 2008
The fortunes of American International Group, one of the world’s biggest insurance companies, rise and fall on precise calculations of risk. Last quarter, those calculations went seriously awry.
In the worst three months of the company’s 89-year history, A.I.G. lost $7.81 billion, primarily from bad investments in complex financial instruments. The loss of $3.09 a share, reported after the market’s close Thursday, was four times worse than Wall Street analysts had expected.
The venerable insurer now joins the ranks of other industry giants that have suffered huge losses because of the recent tumult in the financial markets. This is the first time A.I.G. has lost money in two consecutive quarters.
To shore up its finances, the company will seek to raise $12.5 billion by selling new stock and fixed-income securities. Despite the painful quarter, the company plans to raise its dividend by 10 percent — half its usual increase — which will cost an additional $202 million on an annualized basis.
Shares of the company closed at $44.15, down 93 cents, or 2 percent. In after-hours trading, A.I.G. shares fell another 7 percent, and the ratings agencies Standard & Poor’s and Fitch lowered the company’s credit ratings.
The company’s chief executive, Martin J. Sullivan, conceded in a statement that A.I.G. had badly underestimated the extent of the problems in the credit market.
“The severity of the unrealized valuation losses and decline in value of our investments were beyond our expectations,” he wrote.
Mr. Sullivan, who took over his post in early 2005, wrote that the dismal results “do not reflect the underlying strengths and potential of A.I.G.” He blamed the “extremely adverse external conditions” in the housing and credit markets, but defended the performance of his company’s core insurance business.
A year ago, A.I.G. appeared in solid shape. The company reported a profit of $4.13 billion in the first three months of 2007, or $1.58 a share.
But in trying to expand its fortunes, the company had, up until 2006, been involved in an arcane corner of the fixed-income market, where companies traded sophisticated instruments known as credit default swaps.
For awhile, those swaps rewarded investors with enormous returns. But as securities tied to subprime mortgages began to collapse and a growing crisis of confidence spread throughout the nation’s financial system, the instruments rapidly lost their value.
The result for A.I.G. was, in the words of one analyst, “gruesome”: its assets lost $9.11 billion in value in the first quarter alone. That hit, coupled with a $6.82 billion loss on investments, decimated the company’s bottom line.
A.I.G., which still holds those battered assets, is hoping that the market for credit default swaps improves in coming months.
The news is likely to raise questions about Mr. Sullivan’s stewardship, but at least one analyst expressed sympathy with his position.
“To be fair to Martin, he walked into this,” said Cliff Gallant, an analyst at Keefe, Bruyette and Woods, an investment bank. “Even if he had foreseen what was going to happen here, I’m not sure he could have done a lot.”
Still, Mr. Gallant, who has a hold recommendation on A.I.G. stock, said the management’s inability to predict the extent of the losses raised questions about its leadership going forward.
“They were very confident” at the beginning of the year, Mr. Gallant said. “They talked about having significant excess capital positions. They didn’t foresee the type of losses they were on the verge of getting.”
Futures (2) + World Indices
http://www.cme.com/dta/del/globex.html
http://money.cnn.com/data/premarket/
World Indices (2) Mini Charts
Updates every 60sec ~ Watch the dates!!
http://www.wwfn.com/commentary/oscharts.html
http://www.allstocks.com/markets/World_Charts/Asian_Stock_Markets/asian_stock_markets.html
Fed. Oops today [Net Drain -30.25B]
QQQQ ~ FOMOOut ~ SOMA ~ SPX #msg-11379252
poomy, Open market operations are what the Fed
does to keep the fed funds rate close to the target set by the Federal Open Market Committee. The fed funds rate is the rate at which banks lend to each other overnight, and the Fed keeps it on target by supplying as much liquidity as there is demand for at the target rate. If the Fed failed to supply enough liquidity, the fed funds rate -- the cost of money -- would rise as the supply fell. Conversely, if the Fed supplied too much liquidity, the fed funds rate would fall as supply outstripped demand.
The open market operations by which the Fed supplies liquidity to the banking system are purchases from and sales to dealers of Treasury and other debt securities. It works this way: When the Fed buys securities from a dealer, the dealer's bank see its reserves increase by the amount the Fed paid for the securities.
Open market operations are either permanent or temporary. The Fed buys or sells securities on a permanent, or outright, basis, when its forecasts indicate that the amount of liquidity in the banking system will continue to need adjustment. It buys or sells them on a temporary basis when a shortage or excess of liquidity in the system is viewed as short-lived.
An outright purchase of Treasury notes or bonds by the Fed is called a coupon pass. A temporary purchase is called a repurchase agreement, since the dealers agree to buy the securities back from the Fed on a certain date. Permanent and temporary sales of securities by the Fed to dealers are much less common than purchases.
Open market operations are conducted by the Fed's Domestic Trading Desk (a.k.a. the Open Market Desk) at the New York Fed.
http://www.thestreet.com/tsc/basics/tscglossary/openmarketoperations.html
Fed. 45.50B Mature tomo l'm Out Dr.Apt
17.25 1day, 5.25 2day, 18.00 7day, 5.00 14day
Venezuela protest halts gold mine output
Wednesday May 7, 5:53 pm ET
Venezuela gold miners halt operations at Hecla Mining Co. venture
CARACAS, Venezuela (AP) -- Hecla Mining Co. says Venezuelan workers are blocking the entrance to its Isidora gold mine, suspending operations.
The Idaho-based silver and gold miner says as many as 30 workers have camped in front of the mine's entrance in Venezuela's southern Bolivar state, closing it for eight working days.
Hecla's Vice President of Investor Relations Vicki Veltkamp says that as of Wednesday, the protest has not affected company output.
Hecla, which mainly mines silver, expects to produce 85,000 to 115,000 ounces of gold this year -- more than half of it in Venezuela.
Chichi2, No problem we all make errors
yea it's nice to be right all the time but we are playing with well heeled crooks like this guy from Goldman.
Paulson says worst of credit crisis may be over
http://biz.yahoo.com/ap/080507/paulson_interview.html
Such lies he still trying to convince us all is well esp after
$130 million economic stimulus checks arrive. Fill the tank & 2 trips supermarket & it's gone.....BTW most all stations here have started $50 limit on gas.
Nice race Frenchee...
Fed. 1day RP + 17.25B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Fed. 1day RP + 17.25B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
CPST after back/fill, fresh breath
Fed receives 71 bidders for $75 bln TAF credit auction
10:00 AM ET, May 06, 2008 - By Greg Robb
WASHINGTON (MarketWatch) -
The Federal Reserve on Tuesday said it received 71 bidders for its Monday auction of $75 billion in 28-day credit. The loans are being offered as part of a special term auction facility to help alleviate liquidity problems in global financial markets stemming from losses due to risky mortgage-based securities. Total propositions submitted reached $96.6 billion, or a bid/cover ratio of 1.29. The awarded loans will settle on Thursday.
Real-Time Forex Streamers (2)
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