I'm going to say that it's the movement by the Fed towards actually trying to do something about the economy. I know a lot of people think that Ben Bernanke has been slow to act and that his signals this week were still overly cautious, but whether that's true or not I do think that some action is coming, and that's pretty important to the question of whether the economy will be in good enough shape in 2012 for Barack Obama to be reelected. (Not to mention the other reasons that the health of the economy is important).
So that's what I thought mattered. What do you think?