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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/19/2002 4:47:48 PM
From: Joe Stocks	Read Replies (1) of 787

FED TALK:>>> The fed fund futures market continues to see a 100% chance of a 25 basis point rate hike by the June 25/26 FOMC meeting, with the July contract trading at 2.005% (up from 1.99% late Friday). And the August contract, where open interest has now built to a respectable 1,158, is moving closer to fully pricing in another rate hike by the Aug. 13 meeting. The August contract fully prices in a move from 2.00% to 2.25% at the Aug. 13 meeting at a rate of 2.145%, so its current rate of 2.12% suggests the market is pricing in roughly an 80% chance of another quarter-point hike assuming the Fed meets expectations for a quarter-point hike in July.<<<

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