| | Morgan Stanley (Site not responding. Last check: 2007-09-11) |
 | | But since the recent increase in auto incentives were in large part aimed at clearing remaining 2002 models ahead of the start of the 2003 model year, some reduction in incentive levels is likely in the next couple months, at which point we could see a more significant correction in sales. |
 | | October fed funds futures were off 3 ticks on the week to a rate of 1.68%, pricing in about a 30% chance of a rate cut at the September FOMC meeting, while the December contract dropped two ticks to price in a slightly greater than 50% chance of a move by year end. |
 | | The former is mainly the middle-age tier, or core of the current labor forces, that purchased homes in the bubble period or later, and the latter is mainly retirees who acquired homes before the bubble period, benefited from rapid growth of the economy, and have already paid off home loans. |
| www.morganstanley.com /GEFdata/digests/20020826-mon.html (6687 words) |