Early days, but the pendulum is swinging to the positive

Mar 19, 2008 (The Australian Financial Review - ABIX via COMTEX) -- NO MATCHES FOUND. | news | PowerRating | PR Charts -- The latest interest rate cut by the US Federal Reserve was accompanied by much analysis and commentary. The 0.75 of a percentage point rate reduction initially disappointed traders and prompted a plunge in the Dow Jones Industrial Average. Commentary shifted from describing the adjustment as "only a 0.75 per cent cut" to claims that the central bank has left room for further action. By the close of trade, the Dow Jones was back at intraday highs. The fall in the Chicago Board Options Exchange Volatility Index back to 25.7 and a rally in the State Street Investor Confidence Index for March 2008 may be perceived as further evidence that the "pendulum" appears to be swinging towards the positive.

Publication Date: 20 March 2008

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