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Non-Tech : Invest / LTD

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To: Thean who wrote (3504)	9/29/1998 2:43:00 PM
From: drsvelte	Read Replies (2) of 14427

No TV either, but from Briefing.com 14:30 ET Dow -48, Nasdaq -11, S&P -3.36: Dow sold off 100 points before finding a bottom immediately following news that the Fed cut the funds rate by 25 basis points, but is now paring its losses as buyers get back in the action... Traders apparently wanting a 50 bp cut, yet the likelihood of another 25 bp reduction at the next FOMC meeting is helping to diminish the initial disappointment... 30-yr bond +4/32 at 5.13%... Brazil -1.00%... Russell 2000 -0.9%. I suspect they will spin it so that .25 is what they REALLY wanted!

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