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To: clochard who wrote (82580)	1/6/2000 9:52:00 AM
From: flatsville	Respond to of 86076

Then there's this-- ''There's a great deal of uncertainty about any of their operations these days,'' Stone said. Yeah, no kiddin'. biz.yahoo.com Fair Use/etc... Thursday January 6, 9:16 am Eastern Time Fed seen adding reserves via overnight system repos NEW YORK, Jan 6 (Reuters) - The Federal Reserve is expected to add temporary reserves to the banking system on Thursday through a round of overnight system repurchase agreements, analysts said. ''They have a good bit coming off today with the first of the long ones (repos) they did back in October,'' said Carol Stone, senior economist at Nomura Securities International. The long-term repo expiring today, totaling $6.015 billion, together with the $6.8 billion overnight RP the Fed conducted on Wednesday accounts for the add need, Fed watchers said. But analysts said again that various factors made it difficult to peg what the Fed was likely to do on the open markets desk. The main reason, economists said, is the competition between the rate at which currency in circulation diminishes and the rate at which long-term RPs the Fed conducted in 1999 to ensure liquidity in the financial markets at Y2K expire. ''There's a great deal of uncertainty about any of their operations these days,'' Stone said. In early dealings, Federal funds were trading between 5-7/16 percent to 5-1/2 percent, according to Garban-Intercapital, below the Fed's target for the rate.