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Strategies & Market Trends : Rande Is . . . HOME

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To: ALTERN8 who wrote (47339)	2/13/2001 4:08:34 PM
From: Rande Is	Read Replies (2) of 57584

REAL reason for selloff: Fed drains $3.1 bln reserves through matched sales Tuesday February 13, 11:30 am Eastern Time NEW YORK, Feb 13 - The Federal Reserve said on Tuesday it drained $3.100 billion in temporary reserves from the banking system through overnight matched sale-purchases. At the time of the operation, federal funds were trading at 5-1/2 percent, the Fed's target for the rate.

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