Ok, we are all in the economic mother ship together. The other day the equity market got very excited by the Geithner plan. It is kind of interesting to note that the State Municipal CDS markets didn't really care.
If we are all in the ole economic boat together should the spreads have narrowed? So who is right?
Either the CDS market gets on board and starts singing Kumbya or the equity market may have gotten a little ahead of itself in the shell game that passes for economic policy these days.