Dollars and Jens
Friday, October 24, 2008
stocks fall
S&P futures dropped the maximum the CME allows before the market opened, though things look a little bit less gruesome than this implies an hour into the trading day.

Incidentally, I commented somewhere, possibly including here, that I'm cautiously optimistic that we've past the very worst of the crisis. By this I mean the credit crisis; by no means was I suggesting that the stock market, a year from now, would be higher than, say, two thirds of its current level. Though I'm certainly not predicting that it will be lower than it is today, either. Anyway, treasury bills are certainly rallying this morning, but I don't see general indicators of especially grim credit indicators, at least not by standards of the past month.


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