RBA cuts 100 BPS…  It IS a recession!  Paulson to ruffle feathers?  Yen to rally hard? And Now… Today’s Pfennig!

Bad data pushes investors into US treasuries…  Barclay’s says the euro will rally…  SNB surprises with a rate cut…  Iceland gets their bailout… And Now… Today’s Pfennig!

Fed cuts rates 50 BPS!…  Currencies rally Big!…  3rd QTR GDP to go negative?…  I.O.U.S.A. … And Now… Today’s Pfennig!

U.S. stocks soar!  Currencies rally!  Consumer Confidence at an all-time low!  Getting off the bench! And Now… Today’s Pfennig!

Mini-currency rally is cut short … Is it Japan or U.S.? … Gold stages a rally…  Swiss francs remain well bid…
And Now… Today’s Pfennig!

Two extraordinary things happened yesterday, the Fed cut rates 25 bps and the government started sending “tax rebates”.

The Fed decided to leave out some language that had the markets thinking they had figured out the Fed… But in reality they know nothing more than they did earlier in the day!

I’m seeing more and more talk/speculation of the Fed announcing an end to this rate cut cycle after cutting rates 25 BPS. Hmmm… Interesting, don’t you think? I mean, come on, when has the Fed ever been that transparent?

We’ve seen this type of dollar frenzy before, but calmer heads have always come back to the table to point out the awful fundamentals that the dollar carries around like an albatross around its neck.