Quick Economic Recap of Last Week

• The Federal Reserve lowered the Fed Funds rate by 25 bps to 4.50%.

• The 10 year T-Bill (and the rest of the market) was down about 2.5% last week on concerns about the credit market.

• Concerns about the credit market were well founded as Citi announces a write-off of $8 – $11 Billion and the CEO resigning in an emergency board meeting yesterday.

I send out a weekly email talking about the economy, where the 10 Yr T-Bill is at as well as other rates and spreads. The bullet points above are from this morning’s email. I don’t usually post all of the info in the weekly email here. If you would like to get all the info, shoot me an email at jcrouch (at) nbsfinancial (dot) com and I’ll add you to the distribution list.