Primary dealers take fewer Fed loans

05/9/2008 | Reuters

Wall Street firms that deal directly with the Federal Reserve showed less appetite for cash from the Federal Reserve this week. It is too soon to determine if less borrowing by primary dealers from the Fed signals that the credit crunch has made a turn for the better. "On the surface, these numbers offer optimism for the credit market, but looking beneath these numbers, we just don't know," said Ward McCarthy, managing director at Stone & McCarthy Research Associates.

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