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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (2919)	12/5/2000 12:32:54 PM
From: John Pitera	Respond to of 33421

Tim, Greenspan came out with his softening speech today. It was only a matter of time, after last thursday's Chicago NAPM numbers, the Jobless claims and the continued market weakness. ------------ Greenspan's speech..... As stated it carries a far softer tone than the current Fed policy directive suggesting a neutral risk assessment at the Dec 19 FOMC meeting and heightened odds for an ease. The federal funds futures contracts have priced in higher odds for an ease. A December ease still carries weak odds given the expectation for the Fed to turn policy neutral before pulling the trigger. The Feb contract puts the odds on a January ease at 78% and the April contract prices in a full 25 ease with moderate odds for more aggressive easing.