Wednesday 10/8 ... Coordinated Rate Cut

By: Matthew Graham • Wed, Oct 8 2008, 7:31 AM

Central Banks with the exception of Japan, announced a coordinated rate cut this morning. The fed funds is down .5.

The hope with the "coordinated" part is that there won't be as big of an inflation impact.

MBS are unchanged at the moment, but the trading action doesn't really pick up until 8AM,

Buckle Up for another "fun" day.