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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.19-0.8%Nov 18 4:00 PM EST

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To: HairBall who wrote (6984)2/24/1999 3:59:00 PM
From: j g cordes  Read Replies (1) of 99985
 
The most significant thing Greenspan said was that he's pumping in 20% more cash to banks for Y2k liquidity. This is inflationary to money supply, though commodities and other indicators may not have cause to react. Money floating around will find a home, either in the market or hard assets. It won't do anything sitting in banks because banks don't want it. Bottom line.. part of the run up in rates is traceable to this footnote in his speech.
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