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To: IsaacF1 who wrote (1355)	5/8/1998 9:37:00 AM
From: IsaacF1	Read Replies (1) \| Respond to of 13094

Thread: Fasten the seatbelts: Jobless rate falls to 28-year low WASHINGTON - The Labor Department says the unemployment rate fell to a 28-year low of 4.3% in April as the super-charged U.S. economy churned out 262,000 new jobs. The 0.4 percentage point drop in the unemployment rate underscores just how strong the U.S. economy remains and is likely to increase pressure on the Federal Reserve to start raising interest rates to cool things down to prevent inflation from re-igniting. What the street wanted: THE BIG NUMBER.... From Greenwich to Scarsdale to Short Hills, bond traders, analysts, and Wall Streeters of every kind will be tossing and turning tonight. That's because everyone expects tomorrow's unemployment data to be a key factor in whether the Fed raises rates when they meet on May 19. The Street is looking for the unemployment rate to come in at 4.6%, and the economy to have created between 250,000 and 300,000 new jobs last month. Anything substantially stronger than that, and there's likely to be carnage--especially among financial stocks. If, on the other hand, the numbers come in weaker than expected, look for a big rally. I was talking to some traders this afternoon and they privately expect stocks and bonds to weaken following a strong jobs report, at least at first. Goodbye CAND IsaacF1