Thursday 9/25 ... Picking it up a bit

Off the lows after details of the bailout (preliminary) have had some time to be digested by markets.

Nothing spectacular, but we're back in the black (by half a tick!) at 100-04. This should be good enough for some of the more "spooked" lenders to come back with an eighth, and for heavily hedged lenders to cough up a potential quarter.

We're in this for that dry ink though. That will be another good day.