Tidbits Message Board - Msg: 13987323

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Tidbits

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Didi who started this subject	7/3/2000 9:27:38 AM
From: Didi	Read Replies (2) of 1115

"FED CALL"--Ino.com: "Analysts expect Fed may take no action; funds at 7%" news.ino.com ------------- Edited for ease of reading: >>>Jul. 3-MAR-- [B] FED CALL: Analysts expect Fed may take NO action; funds at 7% By Deborah Lagomarsino, BridgeNews New York--July 3--The Federal Reserve may not take additional action after already adding reserves into the banking system via 28-day fixed system repurchase agreements earlier this morning to address a technical need for reserves, analysts said. * * * At 0845 ET, the federal funds rate was quoted at 7%, above its target rate of 6.50%. Dana Saporta, a Fed watcher with Stone & McCarthy Research Associates, said she expects the Fed may not need to add further reserves after already stepping in earlier this morning with 28-day fixed system RPs, which likely totalled $2 billion. The funds rate remains under pressure due to quarter-end, corporate tax payments that are boosting the Treasury's cash balance at the Fed and rising currency in circulation ahead of the July Fourth holiday, she said. She sees the Fed's daily average add need at $4 billion for the remainder of the current maintenance period. The Fed added reserves Friday via weekend system repurchase agreements totalling $5.5 billion. Fed funds averaged 6.86% Friday and traded in range between 2% and 7 1/4%.<<<

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next