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Monday, Monday

Well, the world survived the weekend.

This morning, the 3 month LIBOR Rate fell sharply to 1.87% and bond prices are a little weaker as commodity prices gain further. 
 This is the FOMC meeting and it is likely that the Fed will cut the Fed Funds rate to a scant .5%.
I have updated the charts and they show a wildly overbought market which is ripe for a selloff.
 In the corporate world, it was a tough week for credit with the auto sector nonsense dominating the news.
In canada, Shaw, long one of my favourites, was upgraded to BBB-. Also, there are a variety of opinion on BCE's credit rating but it appears that it will maintain investment grade status.
The new issue calendar is likely done for the year now.



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