FED EXPECTED TO SET THREE-DAY REPURCHASE PACTS
  The Federal Reserve is expected to
  enter the U.S. Government securities market to add temporary
  reserves directly by arranging three-day System repurchase
  agreements, economists said.
      They said the Fed may add the reserves indirectly instead
  via a large round, two billion dlrs or more, of customer
  repurchase agreements.
      Federal funds, which averaged a high 6.35 pct on Friday,
  opened at 6-7/16 pct and traded between there and 6-1/2 pct.
  

