30 June 2011

SP 500 and NDX Futures Daily Charts - Timmy May Be Leaving, Who Will Replace Him?



On the bright side, Hans Nichols of Bloomberg Washington is reporting that Timmy Geithner may be leaving the government after the budget deal is done. Just another compelling reason to hope for a quick resolution.

Or maybe not.

One shudders to think who Obama might put forward, and what the confirmation process might look like in Congress unless he chooses someone to the right of Andrew Mellon.

Given his past history of selecting unexpected candidates somewhat over-friendly to corporations and Wall Street, one can only wonder. 

The paint was going on thick and heavy today for the end of quarter, as the trading desks and hedge funds were optimizing their bonuses. Let's see how we go into the US holiday weekend.