MF Global $MF just got suspended from doing business with the NY Fed. That’s kind of like the kid on the block that gets the silent treatment from the other kids. They may file for bankruptcy as soon as today. There are primary dealers at 110th and Lexington Ave that are more financially secure than MF this morning.
The dollar is hitting new lows against the Yen.
Barton Biggs is out bullish this morning, but water is also wet and we will all die and pay taxes, (well at least half of us will pay taxes).
Stock markets here and abroad are taking a breather and treasuries are higher.
The ISM Manufacturing and the FOMC rate decision will be this week. The big jobless number will be on Friday.
John Corzine was seen on his laptop at a Starbucks logged into Monster.com searching” more companies or states to destroy”.
Hedgies are still behind the eight ball, so I expect dips to get bought.
Dick Bove loves every bank and wishes the S&L crisis could have lasted longer.
There are many little devils in the Euro plan details, so as they emerge things could get interesting.
Have a great day.
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