bernanke moderates the rally

Ben said yesterday:

"Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth"

http://www.forbes.com/2009/06/03/bernanke-fed-congress-bonds-treasury-markets-economy.html

Result is the Dow goes down 60 odd points, and the US dollar surges and the AUD gets smacked back down below 80 US cents.

Our futures are red and should open below the significant level of 4000 which was reached yesterday.

If there is one good piece of news from this is there won't be any capital raising announcements today IMO.