We aren’t driving as much (I’m going to cut back, too):
DOT: US VEHICLE MILES TRAVELED IN MARCH -4.3% Y/Y, FIRST DROP IN MARCH SINCE 1979
Moody’s has absolutely NO credibility with me. None, nada, zip:
MCO Moody’s CEO: RECOGNIZES SERIOUSNESS OF QUESTIONS RAISED BY MEDIA REPORTS ON ERROR IN RATINGS MODELS
- Says will act quickly and decisively to address any need for changes in process.
- Notes will be vigilant in efforts to establish facts of situation.
No one has any answers to the oil prices, apparently:
US ENERGY SEC BODMAN: DOES NOT BELIEVE ANY US INTERVENTION IN CURRENCY MARKETS WOULD AFFECT PRICE OF OIL - CNBC COMMENTS
- also notes raising current margin requirements for commodities would do little to affect the price as well
And a "Source" is saying that the Fed may make the TAF a permanent credit facility. Damn them (and all the rest of us) if they do, is all I can say.
