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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: Rich1 who wrote (10408)	5/9/2001 11:40:15 AM
From: John Pitera	Read Replies (1) \| Respond to of 15481

you'll be going to disneyworld pretty quick!!. notes on the interest rate cycle: Treasury bill rates have edged down 2 to 4 bp this morning as the market comes to grip with the high likelihood for another 50 bp FOMC policy ease on Tuesday. The May funds futures contract prices in 86% odds for a 50 bp move given the assumption for at least 25 bp. Contract pricing leaves an implied funds rate low of 3.76% in September as rates rise thereafter. We suspect the easing cycle will be longer lasting and carry the policy rate down to the lower 3% range