It’s been a while since the market has run a deatheatch on a financial services company but CIT finds itself in that uncomfortable position this morning. Tim Geithener was foreced to address the CIT concerns amid his visit to the US this morning.
CIT’s woes may keep risk appetites constrained this morning. EUR/USD trades now at 1.5950 afrom 1.3977 a short while ago.
On the wires, Geither sees stimulus spending hitting the bottom line from here on out. He sees a good chance for growth over the next two quarters.
