Credit markets are finally showing some signs of movement, giving hope that exchange traded funds (ETFs) and Wall Street will soon feel a little relief.
Meanwhile, Ben Bernanke is testifying in Congress today, and said another round of government stimulus could be a good idea, reports Jeannine Aversa for the Associated Press. Democrats have been pushing for one, while the Bush administration is cool to the idea.
Bernanke says the economy will probably be weak for several quarters, so Congress should consider such a package.
Lower interbank lending rates are giving new life to global markets, and most of the major world indexes rose today, reports Pan Pylas for the Associated Press. But even if Libor rates continue to head lower, the markets won’t be out of the woods because the economic slowdown might become more and more evident in the coming months.