Moguls Mantra to the Markets Message Board

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Non-Tech : Moguls Mantra to the Markets

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To: SunSunM who wrote (141)	9/13/2001 5:14:54 PM
From: $Mogul	Read Replies (1) of 220

Two economic reports were released today that in other times might move the markets. One says the University of Michigan’s index of U.S. consumer sentiment plunged to an eight-year low in September, dragged down by crumbling expectations for the future. The other showed a big jump claims for jobless benefits. No one noticed. Bond market restarts, traders predict rate cuts Chicago’s bond-futures pits, among the first U.S. markets to reopen, started calmly. Short-term contracts rose, while long-term instruments fell. If sustained, that movement traditionally indicates that investors expect Federal Reserve rate cuts. Some contracts more directly reflect interest-rate bets, and they, too, point to imminent Fed action. Eurodollar futures and federal funds futures both have rallied strongly. "The money that’s making its way into the market is looking for a half point [rate cut] on October 2,” CNBC's Rick Santelli reports from the Chicago Board of Trust Recessiuon is a given at this juncture.

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