Wednesday, January 16, 2008

Beige Book Shows What We Already Knew

The market is well off its lows from this morning, and is on the fringe of going positive for the session. This would make for a nice turnaround day on a day when we broke below the August lows in the morning.The Fed’s Beige Book was just released, which gives a snapshot of economic activity among the various Fed districts. I didn’t say anything we didn’t already know. But here are the highlights:Reports from the twelve Federal Reserve Districts suggest that economic activity increased modestly during the survey period of mid-November through December[...]

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[Source: The Money Blogs]

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