Yield Indexes Fall Amid FOMC Decision Not to Cut Rates

Smith, Aaron T.
May 2003
Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p33
Trade Publication
All of The Bond Buyer(All of The Bond Buyer) yield indexes in the U.S. continued to fall to record lows in a week dominated by the Federal Open Market Committee's decision to leave the federal fund target rate unchanged.Wells Fargo & Co. chief economist Sung Won Sohn said on May 6, 2003, shortly after the FOMC announced its decision to keep the rate at 1.25, that the committee's lack of action increased its chance of cutting the rate at its June 24, 2003 meeting.The Institute for Supply Management's non-manufacturing business activity composite index rose to 50.7 1241328n April from 47.9 12713816n March 2003.


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