Anyone? Bueller?

Notice the action in Fannie Mae (FNM). That stock is being taken out and shot while bonds rally on the Fed's decision to keep on keepin' on. If someone could email me with an explanation I would appreciate it. I can see why FNM would sell off in general but the ramp job yesterday and smackdown today is a bit of a head scratcher.

Also interesting in here is that GM apparently likes the idea of a court battle.

The dispute will end up in court or, analysts say, with GM paying for Fiat to forget the "put" deal.

Fiat investors reacted with disappointment to the passing of the final official period for mediation. With no concrete encouragement from either company, but with endless rumours in the Italian media, investors had been expecting GM to pay a large sum of perhaps $2bn to Fiat. Fiat's shares fell 5.6 per cent yesterday, losing much of their gains from recent weeks. GM's shares were up almost 2 per cent by lunchtime in the US.

Seems to me that a court battle, if it entails legal reserves, might still bring a downgrade.

Overall I am a bit surprised by the markets negative reaction after the Fed meeting. It could just be a sign that investors are disappointed by Google's (GOOG) inability to spur the entire market. We shall see.