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Saturday, January 28, 2012

Let’s start off with the negatives:  1) GDP was a bit light compared to expectations, 2) the Fed extended ZIRP to 2014, 3) market volume/liquidity sucks.  We can all pretend that the Fed decision represents an unabashed greenlight to buy risk assets, but the truth is that ZIRP still represents a big unknown that will most likely end in tears…