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Article: State Treasurers Told to Look for Additional Firm Mergers, Fed Rate Cuts.
- Article from:
- The Bond Buyer
- Article date:
- November 20, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Speaking to state treasurers meeting here yesterday, a former Federal Reserve Board governor predicted two more interest-rate cuts in the next two months, and the head of UBS PaineWebber warned that there will be even more mergers of financial firms within the next five years.
Joseph J. Grano, chairman and chief executive officer of UBS PaineWebber, also told one reporter at the National Association of State Treasurers' conference that given the low interest rates and healthy issuance levels, the municipal bond market will remain strong.
Wayne Angell, a former Fed official and the chief economist for Bear, Stearns & Co., said at the conference on public ...