Bernanke Reconfirmation Odds Plunge From Near-Certainty To 78%
InTrade's latest market on Bernanke reconfirmation is 77.5x79, better bid, with some serious bid interest below 72. There is a size seller at 85. Yesterday, the market closed at 93, and was at 95 since the contract inception. The question is if Harry Reid's last minute endorsement will push the odds higher yet again. However, things are not so certain: Democrats have a busy agenda for next week - they have to make a vote on America's bankruptcy first ($1.9 trillion debt ceiling extension), and then there is the whole state of the union address... And the real question - when will Proshares and BlackRock start selling a qunituple leveraged ETF that will decay 99% by the time it hits Cede & Co.
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