Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (1194)	6/2/2000 10:41:00 AM
From: John Pitera	Respond to of 2850

Yes, we have a big bond rally as well 08:49 ET 30-year: +48/32..5.838%....GNMAs: +26/32....$-¾: 108.10 WOW!!Treasuries are going absolutely nuts right now with the cash bond up almost two full points on the session. Our skepticism towards the recent rally in the market had largely been based on expectations for a less-than-friendly employment print, but we could not have been more wrong. The credibility of the employment data has and will go a long way to dampen thoughts of a more aggressive Fed going forward. Of interest, the July Fed funds is now placing the probability of a 25 bp tightening at the June 28 FOMC meeting at just 40%, down from roughly 85% at the close yesterday. Some selling into the strength has been reported in the futures pit, but most dealers have been aggressive buyers. Of interest, we are finally seeing some outperformance on the part of shorter-dated paper, despite the lofty gains on the part of stock futures. December Eurodollar futures were reported to have posted their second-largest gain in over a year.