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Strategies & Market Trends : MOVING NOW!

CTIC 9.090

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Jun 26 5:00 PM EST

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To: bobby is sleepless in seattle who wrote (6808)	11/29/2000 3:05:29 PM
From: Lane Hall-Witt	Read Replies (1) of 8046

bobby: The banks really have me scratching my head today. I think they're aggressively pricing in Fed rate cuts for the beginning of next year, but I personally don't think the Fed is ready to be our friend quite yet. Three Fed big-wigs spoke last night, and all of them were hawkish. The GDP revision was stronger than many had expected and hoped for. Blah, blah, blah. You're right about the bad debt many banks have on their balance sheets. And CMB can't be the only firm with bad equity bets on its books. And where are the investment banking fees going to come from in a market like this? None of this looks so promising to me, but the market's looking at something different today--.

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