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		Home Page Mortgage News You Can Use US rate futures climb as Greenspan urges patience Wednesday February 11, 11:14 am ET NEW YORK, Feb 11 (Reuters) - U.S. interest rate futures rallied on Wednesday after Federal Reserve chief Alan Greenspan ( News ) reiterated the central bank's scope for keeping rates low, leading investors to push out the timing of the first tightening. In his semi-annual testimony to Congress on the economy, Greenspan said the Fed could remain patient in tightening monetary policy, even though the U.S. economy was headed toward vigorous growth. Eurodollar futures (O#ED:), which reflect the market's expectations on the size and timing of the next move in interest rates, were pricing in rates at 1.56 percent by September this year, down from 1.61 percent before Greenspan spoke. June eurodollars (EDM4) were pricing in rates just below 1.30 percent, compared with 1.33 percent earlier. The two-year Treasury note (US2YT=RR), the most sensitive to investor sentiment on monetary policy, rose 4/32 in price to yield 1.76 percent, against 1.81 percent on Tuesday.   Back to Original Article: Mortgage News You Can Use   Continue with: Greenspan-Economy Set for Vigorous Growth Fed Says Expansion Should Continue at Brisk Pace in 2004 Federal Reserve chairman cites economy's impressive gains but warns of threat from soaring budget deficit Wages up for the well-off, but not for others U.S. mortgage applications fall-MBA survey Index says mortgage demand dips Dollar Weak as High-Yielders Hold Court More job searchers just quit looking Heating bills, pump prices shock consumers Greenspan Says `Prospects Are Good' for Sustained Growth in U.S. Economy Yield declines on Treasury notes That Big Fat Budget Deficit. Yawn. Dow Soars 66 After Greenspan Report Experts: Bush Jobs Forecast Optimistic Dollar to hit US import prices eventually-Greenspan U.S. Treasuries Economic growth fuels stronger world oil demand-IEA Dollar Drops on Greenspan Remarks
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