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To: Wally Mastroly who wrote (12264)3/6/2000 11:20:00 AM
From: Justa Werkenstiff  Respond to of 15132
 
Wally: Re: "-Heard a TV business analyst say that the Fed Futures Index (?) on the Chicago exchange is a good indicator of FOMC action. The reading (about 2 weeks) prior to the last 30 meetings has been correct 29 out of the last 30 times."

Yes, this is correct.

The implied yield on the fed funds futures contract for April was at 6.01 percent on Friday, 26 basis points above the Fed's target. So the market sees 100% chance of a rate hike of 25 basis points this month.



To: Wally Mastroly who wrote (12264)3/6/2000 3:58:00 PM
From: Justa Werkenstiff  Read Replies (3) | Respond to of 15132
 
Wally: Well I finally heard it. Now admit I have been out of touch to a certain extent the past few weeks. And I am not selling any bear market spin here but I have been struck by how few have not even acknowledged the possibility that we are in a bear market. I just heard that possibility expressed on CNBC. The Naz has everyone mesmerized to the exclusion of the performance of the overall market.