Fed drop may be 250 bps or, if we're lucky, flat (UUP, rated HOLD)
Posted on April 23, 2008 at 05:01 AM EDT
It looks like the Fed's done, and may only cut 250 bps Apr 30, or if we're lucky.,. won't change at all. This is bullish for the dollar, although it'd likely be the end of currency earnings inflation from overseas sales and profits we saw in 4Q07 and 1Q08 earnings.