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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (48746)8/2/2002 1:11:48 PM
From: Sully-  Read Replies (2) of 209892
 
Money could be moving out of bonds.............

11:23 ET Brokerage firms cutting GDP forecasts; upping rate cut forecasts : Goldman Sachs cut its Q4 and 2003 GDP forecasts and now sees Fed rate cuts of 75 bp in Q4 vs a previous expectation of no rate cuts. Salomon Smith Barney also said this morning that it sees roughly a 50% chance of a 50 bp rate cut at the Aug 13 FOMC meeting. Other brokerage firms have also been cutting economic forecasts and upping rate cut forecasts. The economic forecast changes are just lagging indications of recent economic news, but the growing expectations of Fed rate cuts might get some notice, as the Fed does tend to take market expectations into account when making rate decisions.
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