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Strategies & Market Trends : ahhaha's ahs

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To: ahhaha who wrote (1658)	3/29/2001 9:56:35 AM
From: ahhaha	Read Replies (2) of 24758

Nothing unusual about this FED action but, Thursday March 29, 8:30 am Eastern Time Fed adds temporary reserves via 28-day fixed system rps NEW YORK, March 29 (Reuters) - The Federal Reserve said on Thursday that it was adding temporary reserves to the banking system via 28-day system repurchase agreements. Fed funds were trading at 5-3/16 percent, above the Fed's 5.0 percent target for the rate, at the time of the operation. why are fed funds trading 3 teenies above target? It's called increase in demand for loanable funds and it indicates the economy is recovering. It also indicates that it's time to sell bonds. How intense the reflation will be is a function of how much RP free float is provided to keep fed funds from rising above target. FED knew it was a mistake to lower even 25, but they felt they had to throw Wall Street a crumb. Actually it was a straw, the straw that breaks the camel's back. The good news is that this indicates the stock market has bottomed.

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