January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: RockyBalboa who wrote (617)	6/26/2003 3:08:54 AM
From: Londo	Read Replies (2) of 666

Fed Funds futures: August 99.035, September-December, 99.05 on very thin trade on GLOBEX. Since the Fed will be cutting again (in 10 basis point increments to length as much interest rate speculation pain as possible), I think these futures will start increasing over the next little while. 3-month and 6-month debt is trading at 0.81% and 0.87% yields (from 0.71% and 0.77% pre-Fed), this still implies some form of rate cutting in the future. If housing is the only thing keeping the American GDP positive, the economy is in very very bad shape. Long TBonds and 130 pips away from a long CAD :).. 3.5-3.8% could be in the cards by August.

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