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*** Dealers starting to roll out forward.......>

FOMC
FOMC: *** Dealers starting to roll out forward expectations over futures rate
cuts by the Fed after today's first intermeeting cut by the FOMC since late
2008. Skipping the March 17-18 meeting, Morgan Stanley economists look for the
Fed to annc a 25bps cut at the April 28-29 FOMC as "policymakers await signs
that peak coronavirus infection rates have passed. Given the "fluidity" of the
situation we see risk of an earlier Fed action."

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