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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (17903)	9/6/2001 3:15:56 PM
From: John Pitera	Respond to of 52237

Yes, new lows for Tbills, It will be interesting to see if we get FFunds down to 3% by year end. The prices of funds futures have been bouncing around given the mixed reports on the economy. Tomorrow's employment report will provide another push as its the last before the Oct 2 FOMC meeting. The futures market now prices in 68% probability for a 25 bp ease at the early Oct policy meeting as the November through March contracts all price in a 3.25% policy rate. But that's all that's priced in with the low in the March contract which prices the average funds rate 3.23%. We feel that the odds are fairly strong for a 3% policy rate by year end as a real upturn in the economy waits for corporate profit growth and a return to business investment in capital goods and employees.