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DougS.

01/28/04 4:07 PM

#11721 RE: cowboyd #11720

Interest rates were unchanged (read: the economy isn't improving like the talking heads say it is)

We would have sold off regardless of the announcement. I'm just surprised it was so fast.
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frogdreaming

01/28/04 4:27 PM

#11722 RE: cowboyd #11720

Cowboyd,

The fed kept rates low as expected, but prepared the ground for a rate hike in the forseeable future. This evidently confused the market and caused a sell off.