On Thursday we could know a whole lot more about fin reg and what it means for the markets.
As soon as tomorrow, we may hear that lawmakers reconciled their differences and merged the two reform bills – one from the Senate the other from the House.
What must you know?
I think Thursday is just the beginning of the story, says FBR analyst Ed Mills. 399 times in the bill the legislation says ‘regulators shall promulgate regulations” and 47 times it says "they must do a study.”
Although we may see a relief rally in financials just because we know the text of the legislation, it could be years to come before we understand the full impact of the legislation.