- Market action was dominated by two news stories: 1. Fitch downgraded Greece's credit rating to BBB+ with negative outlook and 2. lingering concerns over Dubai credit woes.
- Major stock indexes down more than 1% while USD keeps upside momentum and for the first time in weeks closed decidedly above the 50 day MA as it bounced off support.
- JPY resumed its rally but intervention becoming a more likely scenario with each passing day
- Obama calls to unwind TARP
Tuesday, December 8, 2009
Daily Recap - 12/08/2009
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Today Treasury secretary said he will seek to extend TARP
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