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To: bcrafty who wrote (72984)5/6/2003 3:25:27 PM
From: Paul Shread  Respond to of 209892
 
I think the market was hoping the Fed was going to say everything was fine. The weakness bias and deflation risk caught everyone by surprise. The market doesn't have to face these things as long as the Fed says they're not there, even though everyone sees the same data. A very funny dynamic.