Economics Update

So, the bank failures come later today, it's Friday, but Calculated Risk's Credit Crisis Indicators are generally positive, though it appears that there are a lot of bears on Treasuries, with the 10-Year note falling sharply.

Then, we have a return of the monoliner insurers, with Moody’s looking at cutting ratings on a whole passel of them.

Meanwhile, all the concern about treasuries and the USD pushed the dollar down today, which in turn pushed oil above $61/bbl.

On the brighter side, this led OPEC to decide against a production cut.