When it comes to timing the Federal Reserve's firstinterest-rate increase since 2006, economists are beginning to seethings the way bond traders do.

Deutsche Bank and BNP Paribas have pushed back their forecastsfor the policy rate move until March, matching levels projected byinterest-rate swaps. Treasuries have returned 2.2 percentsince midyear amid a slowdown in the economy and inflation. The Fedhas kept its target for the benchmark federal funds rate near zerosince 2008.

The two banks join Barclays and Toronto-Dominion Bank inexpecting the Fed to prolong its wait after recent data indicatingcontinuing sluggish economic growth. All four banks are amongthe 22 primary dealers that trade with the Fed.

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