General Entry
The first indication of how financial professionals expect Y2K (The Year 2000 Problem) to affect the economy has appeared in the form of a financial futures trade that reveals their private thinking on this matter. This trade, which consists of a combination of long (purchase) and short (sale for later repurchase at a lower price) positions in financial futures instruments, shows that they expect a spike in interest rates to occur late in 1999. By March of 2000, they expect interest rates to return to normal.
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