Posted on 05/20/2010 9:29:57 PM PDT by Rufus2007
With the Dow Jones Industrial Average (DJIA) take another tumble of 376 points on May 20, some investors are pointing to problems in Europe for the sell-off. However, there may be problems at home as well.
CNBC's CME Group floor reporter Rick Santelli explained on the May 20 broadcast of "Closing Bell" it had a lot to do with the Europe and the Euro, however it isn't all coming from abroad.
"Well, a couple of things," Santelli said. Well, first of all, if you look at the high-grades, they widened out with the high-yields widened out more today at levels today that are wider than the day of the flash crash. That's ‘a.' And ‘b,' you know Maria, we have a 1.2511 on the Euro. This is so much more than just focusing on the Euro."
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
He knows finance because gentleman prefer bonds.
I guess that counts me out although my wife wouldn’t think so. I trade mostly derivatives
Well she hooked up with you so she’s obviously a woman of discriminating taste and perfers AAA ratings. ;)
I posted the same sentiments as Rick here in FR the day of, unaware of what he had said.
... and the father of the Tea Party movement...
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