Financial markets
Bear Stearns has been bought by JP Morgan for $236m, the Fed has cut its discount rate and will lend to inv. banks on the same terms as deposit-taking banks, the dollar has collapsed to $1.58 to a euro ('toilet currency' how are ya?) and gold and oil are $11 and $25 higher than their $100 and $1000 levels respectively.The pound has struggled up to 2.02 against the dollar, which is unremarkable, and means against the euro it is ... 1.28. I'd always immediately dismissed the idea of parity, and still think it's unlikely, but it would 'only' require another 10% fall in the dollar against the euro and a 10% decline in the pound against the dollar. So not impossible.
Labels: Financial mattters
posted by Matthew @ 3/17/2008 08:49:00 AM
Comments: 0
