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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (7729)	4/13/2005 8:07:09 AM
From: Walkingshadow	Read Replies (1) of 8752

<<"The market is giving a sigh of relief," said Michael Metz, chief investment strategist for Oppenheimer & Co. There was concern that the policy discussions reviewed in the minutes "would have a much more hawkish tone" on inflation than they did, he said. >> I don't buy that at all. I think that is typical post-hoc talking head BS. If there truly was concern, that should have been reflected in the Fed Funds Futures, and it was not. The Fed Funds Futures have priced in with virtual certainty successive 25 bp increases at each FOMC meeting through December, and no 50 bp increases. These futures, which directly reflect market expectations, indicate that the market expects and has priced in that in December the Federal Funds Rate will be 4.0%. T

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