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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (42531)	6/28/2000 2:26:00 PM
From: Junkyardawg	Read Replies (2) \| Respond to of 63513

I think I will stay long. I know the wife will be pleased to hear that.;-) dawg

To: Augustus Gloop who wrote (42531)	6/28/2000 7:12:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 63513

the august Fed funds is pricing in a 25% increase as of now. the fundamentals will change going forward but the fed funds futures are very accurate now a days. you have the global money center banks creating these positions, and they have an informational advantage over us..... they Talk to Barzini so to speak -vbg- ---------- , the Fed did its part, leaving monetary policy unchanged. The accompanying statement did suggest that risks going forward were tilted towards inflation, but it also possessed somewhat a dovish tone, acknowledging that "the expansion of aggregate demand may be moderating toward a pace closer to the rate of growth of the economy?s potential to produce." While this aspect of the statement provided some credibility for the steepening bias that came into the market in late-morning trading, it failed to provide much overall help as Treasuries ended the session in negative territory with the August Fed funds contract fully pricing in another 25 bp tightening.------