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To: Lizzie Tudor who wrote (8346)	6/24/1999 3:43:00 PM
From: Dany Tremblay	Read Replies (1) \| Respond to of 28311

Michelle, I don't agree with you on the rates. Yes the first 25 points may have been accepted and factored in, but today's market data is causing a lot of brooding because it indicates the economy is very hot and that the feds will pull more punches. Durables are up 1.4% in may and the jobless rate has eased by only 3000 applications. I don't think we are out of the woods just yet, i.e. we are still in bear territory ;-)

To: Lizzie Tudor who wrote (8346)	6/24/1999 3:55:00 PM
From: DAY TRADER	Read Replies (1) \| Respond to of 28311

Darn, sinking fast at 139 down 7 points DT

To: Lizzie Tudor who wrote (8346)	6/24/1999 6:02:00 PM
From: Les H	Respond to of 28311

Michelle, If there are going to be a series of hikes, you may have to look for short, sharp rallies and declines as in 1994 until the economy slows enough for the Fed. The bond market is factoring in the rate hikes and currency upheavals, but the stock market has yet to factor in the slower economy that the Fed is seeking. If the economy was slowing and the rate hikes were doing the job, then the bond market would be rallying and the stock market bottoming. Nothing is ever the same. The 1994 rate hikes were of the 1/2 percent variety. Who knows the reaction to these anticipated baby hikes of 1/3 percent variety?

To: Lizzie Tudor who wrote (8346)	6/24/1999 10:50:00 PM
From: GraceZ	Read Replies (1) \| Respond to of 28311

some speculation that a .75 hike was due I'm hearing this more and more. Fed still fighting the last war and all (housing prices in California not-withstanding) ''The Internet is a powerfully deflationary force in the world economy,'' Steinberg said. ''It's going to make prices come down.'' I've been saying something like this for a while about technology having a deflationary effect on the rest of the world. I can't tell you how many times a client of mine tells me that they are waiting to buy a certain piece of equipment until the price comes down. No one expects all three quarter point hikes at once, but I believe we will see them over a few months....perhaps two and a wait and see if we melt down for Y2K.