Yet another new program is being announced to try and free up asset-backed lending with the Fed buying student loans, credit-card receivables, etc. Why not?
Other influences on the market today are rebalancing flows related to changes in the MSCI equity index, andGDP from the US.
EUR/USD is firmer in the wake of the latest Fed/Treasury action as mortgage-related aspects to the program are sparking a stock rally. EUR/USD trades at 1.2860, up from 1.2810.
