Recent comments by Federal Reserve Chairman Alan Greenspan clearly altered bond market thinking about monetary policy prospects.
But nearly all economists at the 38 U.S. primary Treasury market dealerships say their views haven't changed. A tightening still is the most likely next move, but the timing remains highly uncertain, they assert.
For many, Mr. Greenspan's testimony last Wednesday before the House Budget Committee helped buttress their arguments that the Fed still has more tightening to do after a quarter-point increase in the Fed funds target rate to 5.50% from 5.25% on March 25.
A new survey, conducted Oct. 9-10, shows that 31 primary dealer economists forecast a tightening as the next move. -Dow Jones