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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (18949)6/30/1999 2:47:00 PM
From: Stephen  Respond to of 99985
 
Michael, perhaps .... but it sounds like they are doing a dance to me to satisfy all the members of the committee. I also believe that one of the comentators made an important point that oversea's credit margins have risen over the last month ... and that is an applecart they really don't want to upset.

Despite the forthcoming economic reports, with earnings coming up, I think the blow-off top scenario is more than on course.

BWDIK ... I was sure they would maintain the tightening bias ... but I guess Uncle Alan has to face Congress and needs something to defend his position when he comes under fire for raising rates at all !!

Good luck all

Stephen



To: Michael Watkins who wrote (18949)6/30/1999 4:47:00 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 99985
 
Michael, what I read in this statement is a simple message:

We are a bunch of political appointies who will let the bond market do the dirty job of keeping government inflation reports in check (we care less about the actual inflation) and will ease every time our political and WS masters will demand so.

We were relative independent until the end of from the Bush administration but this time it is different <G>

BWDIK
Haim


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