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

To: Les H who wrote (44897)	4/4/2000 1:19:00 PM
From: John Madarasz	Respond to of 99985

Bitter Pill... Tuesday April 4, 10:52 am Eastern Time Fed refrains from 9:30 a.m. open market operations NEW YORK, April 4 (Reuters) - The Federal Reserve confirmed on Tuesday it refrained from its regular 9:30 a.m. (1330 GMT) open market operations. Analysts had expected the Fed to add reserves to the banking system through overnight system repurchase agreements. Earlier in the session, dealers said the Federal Reserve was seen buying around $3.5 billion in Treasury bills and $6 billion in coupons on behalf of a large customer, likely the Bank of Japan. The Federal Reserve declined comment on the dealer reports. In early dealings, federal funds were trading at 6 percent, on the Fed's target for the rate. biz.yahoo.com Regards, JM