Markets Give Geithner a Vote of Confidence

Treasury Secretary Geithner‘s fears about unemployment appear to be disappearing fast. Or at least his personal fears. According to the prediction markets at Intrade.com, the chances that he departs his post this year have declined from a high above 40 percent to around 10 percent.

It is surely no coincidence that the Geithner option has reverted to more “normal” levels in parallel with other financial prices.