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Politics : Formerly About Applied Materials
AMAT 301.11+6.9%Jan 9 9:30 AM EST
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To: michael97123 who wrote (56443)11/28/2001 4:20:44 PM
From: Jacob Snyder   of 70976
 
re: even the fed don't know:

All that's happened is, the government's attempt to push down LT rates (by stopping sales of 30Y Treasuries) isn't working. LT rates dropped in the first knee-jerk reaction. Once people actually gave a bit of thought to what they were doing, they decided not to be fooled. LT rates follow inflation expectations. LT rates have barely budged, while Fed Funds has gone from 6.5% to 2%.
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