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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (10621)	6/13/2001 3:01:45 PM
From: $Mogul	Respond to of 19633

Intra-Day Market Talk: Wednesday, June 13, 2001 2:29 PM FED TALK: The findings in the Fed's Beige Book show continued deterioration in the economy but the deterioration is no worse than is already widely perceived by investors. the Fed's main statement was that, "Most districts report that economic activity was little changed or decelerating in April and May." That statement differs slightly from the Fed's last Beige Book report released on May 2nd when they said that "Almost all districts report a slow pace of economic activity in March and early April. More to come. 2:15 PM FED TALK: The Beige Book indicated that economic activity "was little changed or decelerating in April and May." In addition, wage and price increases are moderate and consumer spending growth has been "lackluster." That clears the way for a rate cut from the FOMC next week but hasn't changed expectations regarding the size of the rate cut. The market continues to price in 100% chance of 25 basis points and about a 10%-15% chance of 50 basis points.