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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (1147)	2/12/2001 12:54:09 AM
From: Raymond Duray	Read Replies (1) of 12410

I wonder where all the money's going...? I'll assure you, it's not Timbuktu. Perhaps some currency traders are seeing opportunities in the euro? Perhaps the guys on the equity trading desks who are creating the false blips on the futures after market hours are taking their proceeds from daily short action and putting it into Treasuries? And a lot of what people thought was in the equity market was pure illusion. One thing is absolutely certain. The FRBNY is putting liquidity into the system and has been doing so at a rate of about $4-5B per day since early January via the discount window using mostly overnight repos. The Fed want to goose things along. Probably too little too late, judging by the anecdotal evidence coming from Main Street. R.

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