Obama's re-election chances shot up on Intrade after the Fed's QE3 announcement.
The online futures market allows investors to wager on any number of future events, from the presidential election to whether Wikileaks founder Julian Assange will be arrested.
In the 90 minutes after the Fed announced a new round of economic stimulus on Thursday, the odds of an Obama victory increased to 65% from 63.5%.
It was a relatively big bump, and gave Obama the best odds for re-election on the site since early May 2011, shortly after Osama bin Laden was killed. The mission, which was ordered by the president, raised his odds to 69%.
Obama's Intrade surge may have been more tied to the stock market than an improved economic outlook, since the Fed's actions won't be able to lift hiring or improve other key economic readings before the Nov. 6 election, said Paul Dales, senior U.S. economist for Capital Economics
Dales said he believes one of the reasons for the long-term linkage between the president's re-election chances and the S&P is that an improving economy lifts both stocks and people's view of the incumbent. But a sudden move like that on Thursday is due to expectations about the markets' direction.
|Oklahoma bans local minimum wage increases|
|Fears grow over China property flameout|
|How Zuck met Oculus: Facebook's big bet on virtual reality|
|Premarkets: Stocks get a boost from earnings, China GDP|
|5 people you might not tip (but should)|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.26%||4.48%|
|15 yr fixed||3.30%||3.31%|
|30 yr refi||4.25%||4.45%|
|15 yr refi||3.29%||3.34%|
Today's featured rates: