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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.81

+0.6%

Jan 6 4:00 PM EST

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To: Crimson Ghost who wrote (64977)	12/21/2000 8:44:31 PM
From: Zeev Hed	Read Replies (2) of 99985

George, I hear everyone talking about a rate cut before the late January FOMC meeting, but frankly, the precipitous drop in rate could very well be due to everyone running for the hills, rather than pricing in a rate cut. Also, in the last few days, the public debt dropped by some $50 Billions, the government might have been parking some of their tax receipts in their own treasuries (reducing temporarily the public debt) artificially depressing the rates. This is just a small seasonal effect due to corporations disbursment of quarterly income taxes, but $50 B in three days can impact the bond market quite a lot. Zeev

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