12.10.07 - Bit of a Dull Day...

...in spite of the early grind higher. It is difficult to imagine a bad result tomorrow:

50 Bps - Hallelujah and off to the races (but watch out for a hangover next day -- wow things are that bad + already short-term overbought). Dollar down, oil up.

25 Bps - Economy must be doing alright after all, and hey, it is the Holidays.

Zero... hmmmn, not going to happen. Famous last words? Maybe we'll get more at the Window. I'm still mostly hedged (and hating it). Good luck tomorrow, play the noise if you must and are quick on the draw. Volatility is the only certainty for the day.