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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (77976)	1/22/2007 11:19:50 AM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Last spring had a lot to do with the Fed starting some very hawkish talk, which was not the case before. Remember Kudlow mentioning that the Fed is prepared to "shock" the markets with a half ? Of course, couple months later it turned out that it was all talk, they have not meant it, as minutes of the following meeting indicated that half a point was not even on the table. Gold declined from $730 to $550, so that jawboning campaign was a success for them.