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Technology Stocks : America On-Line (AOL)
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To: DOUG H who wrote (27966)8/3/1999 8:34:00 PM
From: Rarebird  Read Replies (4) of 41369
 
Danger signals are everywhere.

NEW YORK, Aug 2 (Reuters) - U.S. dollar swap spreads -- a barometer of credit risk in the fixed-income markets -- widened on Monday to levels not seen in a decade, tugging mortgage-backed debt spreads to Treasuries wider.
Discount 30-year mortgage-backed securities prices were off 8/32 to 10/32, while premium mortgage-backed debt was off 7/32 to 1/32 firmer.
U.S. 10-year swap spreads exceeded fall wides of about 97 basis points when they traded as wide as 102 basis points this session, according to market players.
As in recent weeks, the wider swap spreads pushed mortgage-backed securities spreads wider on Monday, according to Art Frank, head of mortgage-backed research at Nomura Securities International Inc. "It was another bad day in mortgages," he said.
Frank said MBS were also wider because of supply and demand imbalance. There has been a deluge of new issues in the corporate and asset-backed debt markets in recent weeks.


PS You call me nearsighted! ROFL! The former German Chancellor had a nice word to describe the AOL Bulls: "Psychopaths"
PSS What makes you dogmatically assume AOL will come Back THIS TIME?

PSS I just love to see you guys express your ineptness by attacking the messenger rather than the Message! If your so interested in my views on Gold and Y2K, come mosy on down to these threads, and I'll be happy to share my wonderful thoughts with you.
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