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To: Tom Hua who wrote (9309)5/14/2001 8:52:54 AM
From: Kelvin Taylor  Respond to of 19633
 
That means after the FED is out of the way earnings forecast become the focus point. Should be quite interesting come June 1 and the next couple of weeks then.



To: Tom Hua who wrote (9309)5/14/2001 8:55:49 AM
From: Paul Kern  Respond to of 19633
 
Tom and all,

First thanks for the RMBS heads up Friday. I covered the short in the morning knowing that I wouldn't be around from 11:00 until the evening and I didn't want to take a chance on a big, positive spin during the CC or the stock spiking into the FOMC. I'm looking for the next short entry point.

I think we get a .50 but would prefer a .25.

Here's the week ahead from Bloomburg:

Bloomberg Survey

Date Time Period Indicator BN Survey Prior
5/14 8:30 March Business Inventories -0.3% -0.2%
5/14 9:15 April Industrial Production -0.2% 0.4%
5/14 9:15 April Capacity Utilization 79.1% 79.4%


5/16 8:30 April Consumer Price Index 0.4% 0.1%
5/16 8:30 April CPI Ex-food & energy 0.2% 0.2%
5/16 8:30 April Housing Starts 1.605M 1.613M
5/16 8:30 April Real Earnings 0.1% 0.7%


5/17 8:30 5/12 Initial Jobless Claims 395K 384K
5/17 10:00 April Leading Indicators 0.1% -0.3%
5/17 10:00 May Philadelphia Fed -10.0 -7.2


5/18 2:00 April Budget Statement $179B 159.5B
5/18 8:30 March Trade Balance $-29.2B $-27B

Federal Reserve, Treasury

Tuesday, May 15

Washington: The Federal Reserve's policy-setting Federal Open Market Committee meets on interest
rates and the economy.

Thursday, May 17

Washington: Federal Reserve Vice Chairman Roger Ferguson testifies before the House Small Business
Committee on small business access to capital.

Washington: Federal Reserve Governor Laurence Meyer speaks at the Risk Management Association's
conference on capital management on ``The New Basel Accord: Challenges for Banks and Their
Supervisors.''

Friday, May 18

Cleveland: Federal Reserve Bank of Cleveland President Jerry Jordan speaks at the Cleveland-Marshall
College of Law conference on Financial Modernization after Gramm-Leach-Bliley.

Traverse City, Michigan: Federal Reserve Chairman Alan Greenspan speaks by satellite to the Conference
of State Bank Supervisors 100th Annual meeting and Conference, on ``Issues for Bank Regulators.''



To: Tom Hua who wrote (9309)5/14/2001 9:00:37 AM
From: Rutgers  Read Replies (1) | Respond to of 19633
 
Good morning, Tom

put me down for 50 bp, otherwise the reasons for the inter-meeting cut would appear to have been too speculative. In addition, it's already priced in and Greenie knows it.