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Pisani: After Fed, 3 More Things to Watch This Week

Fed done for the moment. What's next? Three factors for the remainder of week:

1) inflation indicators: PPI tomorrow, CPI Thursday. Expecting LOW NUMBERS here.

2) Quadruple witching on Friday will create a bit more volume

3) Health care bill is the unknown.

At a dinner party I attended in Washington this weekend, I was quite surprised at the number of well-informed people who felt the health care bill had a good chance of passing.

Until recently, the Street felt that passage of the Senate bill was unlikely.

Medicare Advantage (MA) companies are certainly at a higher risk. Oppenheimer notes that the Senate bill that the House is contemplating passing right now includes a 3 percent reduction in Medicare rates. Goldman Sachs downgraded Universal American because its earnings are 50 percent exposed to MA.

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