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To: JRI who wrote (2498)	5/14/2001 4:45:30 AM
From: XBrit	Respond to of 209892

OT: Possibly the post-Fed selloff has just been moved up to pre-Fed. In fact, starting at the open this Monday morning. The press this weekend has been filled with articles saying, as if from an epiphany, that the Fed may be done easing real soon. The bond market on Friday certainly voted that way. Given that perception, I can imagine the market might not wait until Wednesday to sell off. Asia was weak all over tonight, and Europe has just opened down across the board. In both cases, worries about the Fed slacking off are the main cause cited. quote.bloomberg.com London, May 14, 04:41am EDT (Bloomberg) -- European stocks fell, led by computer-related, phone and financial companies amid concern the U.S. Federal Reserve won't lower interest rates much further. Alcatel SA, Royal KPN NV and ABN Amro Holding NV dropped. "We may have arrived at the bottom of the interest-rate cycle," said Stuart Fraser, who manages about 600 million pounds ($850 million) at Brewin Dolphin Holdings Plc. "There'll be a gap between cutting rates and recovering earnings, and that's where the market could founder."