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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Clement who wrote (25502)	12/16/2000 1:22:41 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

Clementine, market can only be held back somewhat got a spare $5 billion ? we should have a running start into the Fed Meeting a big Naz run prior would work toward preempting any rate cut but the economy is the overriding concern retail spending was negative in Nov, with car sales halted bank portfolios are showing a lot of strain GDP growth has gone from 5.5% to 2.4% very quickly (Fed states lower speed limit as 3%) 3 month TBill yield is 50 bpt BELOW FedFunds rate the big question is how much damage the Fed wants remember these guys are largely incompetent on a grand scale and unaccountable half the Board regards inflation as still a threat and this little slowdown as quite temporary Fed stands pat, goes to easing cycle, and indicates strong likelihood of cutting in Jan30th FOMC you dont take the Fed hostage ever unaccountable <==> never hostage / jim