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To: pater tenebrarum who wrote (18326)6/23/1999 6:20:00 PM
From: Lucretius  Read Replies (1) | Respond to of 99985
 
Easy Al and "gradualism" and not wanting to "shock the mkts"??? what film clip have you been watching? -g-

Oh wait, now I see... you must mean like when he fired off three rate cuts last fall and one of them shockingly right before option expiration to jam up the mkt before the expiration ??

ho ho, yea, he's gradual all right (BG)



To: pater tenebrarum who wrote (18326)6/23/1999 6:33:00 PM
From: Benkea  Read Replies (1) | Respond to of 99985
 
heinz:

"AG is well known for his gradualism and dislike for unduly shocking the markets."

I don't know about you, but I was a bit surprised when Greeny dropped rates that afternoon JUST AFTER the bond market closed on the day before options expiry!



To: pater tenebrarum who wrote (18326)6/24/1999 12:56:00 PM
From: Claud B  Read Replies (1) | Respond to of 99985
 
Heinz,

I know this hasn't been widely addressed but I would NOT be
surprised to also see a hike in the Discount Rate. This would be
related to a new program the Fed is implementing July 2 in order
to make funds readily available for potential Y2K problems.

The Discount Rate hike would prevent banks from abusing the
priviledge of having greater access to funds from the Fed window.

Just my opinion.

Claud