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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (2718)	12/14/1999 10:10:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 11513

Chip, I used to work with Henry Volquardsen, when we were both at Citi in the 1980's. When I worked in Sydney, we spoke on the phone quite a bit, as he was trading the AUD and AUD bonds etc, as he was on the long-dated FX desk in NY. Henry is a great guy. The market is certainly starting to price in a move in Feb. and if the bias is moved to assymetrical then it opens the door to an intermeeting hike, that could be done with a teleconference prior to the Feb meeting. The Fed will also be draining much of the extra Y2K liquidity that has been created with a special series of Repo's since Oct. here is the most positive thing happening for the bonds "While the market has been largely immune to external factors as of late, the continued run-up in US equities may be countered over the near-term by a breakdown in the CRB index. Specifically, oil reveresed direction after trading higher overnight and this morning, with sources noting major technical pressures developing.