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

To: jttmab who wrote (34978)	12/10/1999 9:28:00 AM
From: Lee Lichterman III	Respond to of 99985

I guess because the PPI wasn't worst than expected. Numbers didn't look that good to me but I didn't get my fix of glue yet this morning. See the PPI numbers in the post you responded to. Also the Fed added more and is expected to add even more this weekend biz.yahoo.com Fed seen adding reserves via weekend system repos NEW YORK, Dec 10 (Reuters) - The Federal Reserve is expected to add reserves to the banking system on Friday through over-the-weekend system repos, analysts said. ``We're looking for a weekend system RP,' said James Blumenthal, economist at MCM Moneywatch. ``There are a ton of RPs already outstanding -- about $48.4 billion in long-term RPs and the coupon pass settlement today of about $1.25 billion -- but they still have a residual add need on top of that.' Blumenthal forecast Friday's open market operation at around $3.5 billion. In early dealings, Federal funds were trading at 5-1/2 percent, on target for the rate, according to Garban Intercapital. Good Luck, Lee