Stranger Than Fiction

The jobs number was bad but the reaction by the market to this point has continued to be one of dull interest in selling the lower end of the ranges. Big 3 pleadings on Capital Hill along with Fed cries for mortgage intervention form a backdrop to a stranger than fiction world of economic conditions being met with creative trading strategies based on building spread legs where any new positions are backed by government guarantees. Except for the limited uses of high frequency trading operations to generate income, the macro moves are being plotted to take advantage of the opportunities available over the next three years. Banks will be flush and even the worst the recession will be long passed. What is left standing besides the banks however will be of great interest.