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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: re3 who wrote (79497)12/14/1999 2:28:00 PM
From: Ken98  Read Replies (2) of 86076
 
<<Fed says to add reserves Wed via 21-day fixed RPs
NEW YORK, Dec 14 (Reuters) - The Federal Reserve said Tuesday it would add temporary reserves to the banking system Wednesday via 21-day forward fixed-system repurchase agreements for tri-party settlement.

The Fed, which only rarely pre-announces daily intervention, refrained Tuesday from regular open market operations at their usual 9:30 a.m. (1430 GMT) time.

In late afternoon trade, federal funds were trading at 5-7/16 percent, just below the Fed's 5-1/2 percent target for the rate.>>

Note the phrase "rarely pre-announces"... They only pre-announce to admit they screwed up by not goosing it today already and to repent they will throw in a coupon pass and a partridge in a pear tree tomorrow to appease the market gods.

Ike, LOL. You'll have to hit up Asymmetric Al for the $$ to re-do the pews. I can only dig up a few quarters out of the sofa these days.

Did you catch the A&E biography of the Year with Al last night? UFB. In a year in which the president was impeached, JFK, Jr. died in his prime, the Yankees win the series, we go to war with that Serbian guy, and so forth and the best A&E can do is some geek economist? At least they know to whom to pay homage for the great bull market, let's see if they remember who to blame later.
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