Tuesday, September 23, 2008

Goldman and Morgan Stanley.....

Over the weekend Morgan Stanley and Goldman Sachs were granted permission to transform into a bank holding company. I was surprised by this mainly because I didn't know it was possible.

As a followup to last night's random trading ideas is this article about the Dollar.

The combination of spending $700 billion on soured mortgage-related assets and providing $400 billion to guarantee money-market mutual funds will boost U.S. borrowing as much as $1 trillion, according to Barclays Capital interest-rate strategist Michael Pond in New York. While the rescue may restore investor confidence to battered financial markets, traders will again focus on the twin budget and current-account deficits and negative real U.S. interest rates.

``As we get to the other side of this, the dollar will get crushed,'' said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world's biggest currency hedge-fund firm, which manages about $15 billion.

It has already begun and I think we have a bit more to go.
CLICK HERE to read the entire article. Well worth your time.

Good Luck and Good Currency Trading.



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