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To: bill meehan who wrote (66195)	10/4/1999 3:55:00 PM
From: Defrocked	Read Replies (4) \| Respond to of 86076

Bill, tomorrow may go down as one of the most anticlimatic, widely-anticipated FOMC meetings ever. No hike: because of the political pressure. Assymetry on rates: in case they're wrong. We may find out as soon as Friday's unemployment numbers if they were wrong. I'd expect bonds to give up today's gains and more before Friday. Stocks could easily follow.BWDIK. Of most interest today was the yenEuro cross; a huge move and unlike previous action in that it strongly out performed the dollar against yen weakness. Europeans are bringing money home. This week's CB action(none in US, ECB tightening, and BOJ vacillating) may be providing a springboard for Euro acceptability and demand as reserve currency. IMHO this is an enormous week for US equities, an understatement I'm sure.