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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: Keith A Walker who wrote (2380)	8/4/1999 9:04:00 AM
From: Keith A Walker	Read Replies (1) of 6531

OT: thoughts about interest rates moving higher cbs.marketwatch.com Stocks gird for better open By Kevin N. Marder and Julie Rannazzisi, CBS MarketWatch Last Update: 8:18 AM ET Aug 4, 1999 NEW YORK (CBS.MW) -- An upside open appears to be in store for U.S. stocks Wednesday while the bond market gained some ground after four straight sessions of losses. ... In the bond market, prices eked out minor gains in inactive trading as the market prepared for the refunding announcement. The market expects a $37 billion package to be unveiled, with auctions in the 5-, 10-, and 30-year sectors. Participants are also keeping their eyes on a possible announcement by the Treasury of a debt buyback, as the government surplus has diminished the need to issue new bonds. --------------------------------------------------------------------------------------- When was the last time this happened? Treasury reductions in issuing debt will mollify fears of higher interest rates. The oil embargo and Volcker era were anamolies in the monetary history of the US. 10 years from now, more hybrid vehicles will be roaming the highways than during the energy crisis (that's a pretty safe statement) but OPEC will try to flex it's muscle a few more times: like a dying dinosaur trying to escape from the clutches of the Labrea (SP) tar pits. So what the hell does all this mean, stable interest rates over the next 10 years. A mind blowing thought to those of us who lived through the mid-70's era of inflation and oil shocks. In the end, this will translate into higher equity prices.

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