Hi All,
As you know, there were a few people absent from the midterm today. Out of respect for the process, please refrain from discussing the exam with your friends until everybody has had the chance to take it. I will grade, but will not publish people's scores until all the midterms have been taken. Thank you for your understanding.
While we have been busy writing and studying for the exam, the markets have been hit hard in recent days. Trading was up today, but Wednesday and Thursday were down days as the possibility of a double-dip recession has crystallized in the minds of many investors and traders around the world. The front cover of the Wall Street Journal today shows the YTD (year-to-date) performance of the Dow Industrials, the Hang Seng (Japan), the Euro Stoxx 50, Copper futures, 10-Year Treasuries, and the Dollar Index.
Also, in non-economic news, the Chairman of the Joint Chiefs of Staff Admiral Mike Mullen accused Pakistan at a US Capitol Hill hearing of aiding militants involved in an attack on the US Embassy in Kabul, Afghanistan. Pakistan has since responded quite angrily to these comments.
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