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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (2023)	3/20/2001 2:53:37 PM
From: The Ox	Respond to of 23153

bondtalk.com Intra-Day Market Talk: Tuesday, March 20, 2001 02:40 PM FED TALK: Fed Fund futures contracts have retreated in the wake of the FOMC's 50 basis point rate cut. The March contract has moved to 5.29%, which is essentially fair value for the contract based on the effective rate month-to-date. The April contract has moved to 4.90% from 4.865% at Monday's close. With the new target rate of 5.00%, a 4.90% rate for the April contract prices in 10 basis points of easing during the month, or about a 40% chance of a 25 basis point intermeeting cut in April. The July contract just traded at 4.40%, down from 4.455% at Monday's close. At that rate, the contract is pricing in a 100% chance the Fed will have cut rates by another 50 basis points by the June 26/27 meeting.