Fed to start raising rates soon!

Headlines are sometimes veiled in sarcasm.

In the world according to this Bloomberg columnist, the Fed might start raising rates again really soon.

Sure they will.

In other news sure to make you feel warm and fuzzy, pharma company Bristol-Myers Squibb discloses they’re taking a hit from investments in sub-prime mortgages. And bond insurance big boy MBIA says it’s keeping its triple-A rating. S&P has other ideas.

UPDATE: I noticed the same Bloomberg columnist was recently tooting the horn of banking stocks. Of course, anything can look profitable when the SEC endorses your smoke and mirrors approach to loss disclosure.

Preliminary conclusion…the fed won’t be raising rates by summer’s end, and I wouldn’t own a banking stock if someone paid me to hold it Japan-style.

UPDATE 2: At least the analysts are getting a clue about those bank stocks.