Fed Securities Lending/Credit was a Very Light/Bearish $3.035 Billion Today 5-10-10/$3.162 Billion on 5-7-10/$3.130 Billion on 5-6-10 (Recent weeks average is/was about $6 Billion), see http://www.ny.frb.org/markets/seclend/sec_lendop.cfm. Bernanke seems to be content with letting a substantial downcycle continue, with the current huge spike move probably being a counter trend Wave B type move.
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