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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Gersh Avery who wrote (55508)	6/27/2000 9:25:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Gersh, that's because easy Al & co. have taken to telegraphing their intentions to the markets, as part of their bubble management program. it would be a real surprise if they went and surprised the market for a change (which is what they should do - every time). the telegraphing sickness has in the meantime infected other CBs as well. i think it's a bad thing, as it leads to markets ignoring CB policy...and no matter what Al admits to publicly ,he IS targeting the market, as it has become one of the main drivers of demand in the economy. a change of tack would be truly refreshing... regards, hb PS: i seem to vaguely remember that the ABA (Amer. Banking Assoc.) has issued a dissenting view on the outcome of the current FOMC tete-a-tete. i.e. it said it expects a 25 bp. hike. a hike AND a hawkish statement is probably too much to expect though...

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