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You think the discount will eventually be at 1%?

I don't know. That would put some serious pressure on the dollar, so I hope they don't go that far for the sake of our economy. Hell, I think this is already the fastest decline in rates ever, but I'm keeping my eye on the bond market.

I do feel that if we don't get 75 basis points on March 18, 2007 the market is going to be pissed, big money will flee to the bond market, and we'll be below 11,200 in less than 5 trading sessions. Thankfully, I'm confident the Fed will cut 75bps or maybe a whole percent. They are really out in force to restore confidence to brokers, traders, and the rest of Wall Street.

Remember, the FOMC is doing this because they care... These guys are so generous.

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