Richard Ney and the Wall Street Gang Message Board

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Pastimes : Richard Ney and the Wall Street Gang

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To: ccryder who wrote (8)	11/12/1997 8:48:00 PM
From: BenYeung	Read Replies (1) of 492

By the way, any thoughts on how the stock market moved in response to the FMOC? The actual scenario: Rates unchanged because if it did, weak money will flow into the US to buy long bonds and further weaken the foreign currencies. BUT, stock market slumped regardless of unchanged rates, from down 60 to down 160. They said, "People liquidate stocks to buy saver bonds to illustrate why stock slumped." Lets see the other scenario: Rate hike by a quarter point. Bonds will get hit, so will stocks. Cash instruments will rule. So what is the point? The market will slump in either scenario. Does that explain the exchange play with the prices???

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