Inman - "Bond market speculates Fed will cut rates" (8-4-06)

"Winter could see lowered short-term funds rate"

"The Federal Reserve is done, says the bond market, now convinced that the Fed's next move will be to cut interest rates. Not soon -- winter, maybe -- but cut, and maybe a lot."

"The clincher was this morning's news that the unemployment rate rose from 4.6 percent to 4.8 percent in July, the highest since February, and a slim 113,000-job gain in July payrolls portends further increases in unemployment."

"Mortgage rates are falling again this morning, 6.5 percent on the low-fee deals, taken by the straight-line decline in the 10-year T-note to 4.88 percent."