Bank of England cut their rates by 1% to the 2% level. The ECB cut their rates by .75%. The Fed is expected to cut the rate to .5%. Sweden cut their rate by 1.75%. Hedge funds continue to have problems, with GS's Liquidating Partners down 55% so far this year. Citadel Funds lost 11% in March and is now down 47% for the year. Oil was down to $46.66 with Exon down on Merrill's forecast of $25 a barrel for oil. With Merrill's call to $25, are we near a bottom in oil? Goldmans call for oil hitting 200 was the top in oil!The number of those collecting US jobless benefits rose to over 4 million, the highest level since 1982. Tomorrow the markets wait for the new claims number.