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To: dennis michael patterson who wrote (38944)	2/3/2000 1:10:00 PM
From: Paul Berliner	Respond to of 99985

NY Fed won't comment on rumor of emergency meeting biz.yahoo.com NEW YORK, Feb 3 (Reuters) - The Federal Reserve Bank of New York declined to comment on Thursday on widespread rumors in the bond market that the Fed was convening an emerging meeting with bond dealers to discuss inversion of the Treasury yield curve and difficulties that may be causing in the marketplace. ''No comment,'' said a Federal Reserve Bank of New York spokesman when contacted about the rumors. The Federal Reserve Board is holding a regularly scheduled open meeting to discuss implementing the financial provisions of the recently passed U.S. banking legislation. That meeting began at 11:30 a.m. (1630 GMT) in Washington, D.C. Market sources said there was speculation the central bank was convening a special meeting with dealers to discuss the inversion of the yield curve. A primary dealer contacted by Reuters said rumors of an emergency meeting were a factor in price movements in goverment debt in morning New York trade. The 30-year bond rose over three points on Thursday amid frantic buying of the heels of an announcement by the Treasury that it would drastically cut issuance of longer-maturity debt.