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Stocks Decline on Speculation Fed's $200 Billion Rescue Package Won't Succeed
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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by JackThompson 2 years 8 days ago (bloomberg.com). Views: 91
Tags: housing bubble |
| Related Tags: credit crisis gold wall street peter schiff economics inflation banks |
The Fed's plan ``doesn't change the fact that U.S. yields are very low relative to the rest of the industrialized world and are likely to remain low for the foreseeable future,'' Daniel Katzive, a currency strategist at Credit Suisse Group, said in an interview with Bloomberg radio. ``That's weighing on the dollar.''
`Not a Panacea'
The Fed's measures are ``not a panacea, more like an aspirin for the dollar,'' analysts led by Daniel Tenengauzer, New York-based head of global currency strategy at Merrill Lynch & Co., wrote in a research note. ``There is a reasonable risk that this Fed move reflects the depth of their concern with U.S. asset markets, not a Fed formula to resolve U.S. asset-market difficulties.''
The dollar may decline to $1.57 per euro this month, according to a Merrill Lynch forecast released March 6.
Goldman Sachs analysts said in a report that ``we are not convinced that yesterday's move will solve all the multiple challenges facing credit markets and the financial system.'' Citigroup said ``credit concerns are likely to persist and averting a drawn out recession is becoming increasingly challenging.''
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