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Strategies & Market Trends : Evaluating Rumors and News Along With T/A and F/A -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (83)	9/29/1998 9:08:00 AM
From: Wayners	Read Replies (1) \| Respond to of 141

The market hasn't moved all that much in anticipation of a Federal Funds/Discount Rate cut by the Fed. A lot of the folks on CNBC are saying that a 50 basis point cut is the expectation and that it has been priced in. I don't see it. In fact, I only see part of a 25 basis point cut priced in. The major indexes have come up close to the top of the current trading range--no dramatic rally or something pricing in something as important as a large Fed easing. I think the S&P 500 would be above 1100 right now if the expectation was for a 50 basis point cut.