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To: pater tenebrarum who wrote (55431)	8/7/1999 9:20:00 AM
From: Giordano Bruno	Read Replies (2) of 86076

Do bubbles have feet? Has our beloved bubble shot itself in the foot? Again? ''There is a premium emerging again in owning Treasuries,'' the strategist said. ''There were all these rumors yesterday about another hedge fund in trouble -- about serious problems at banks and hedge funds -- that might produce a bid for Treasuries. It certainly didn't help other parts of the market. Yesterday was a dreadful day for everybody but Treasuries.'' biz.yahoo.com Rumors about liquidity problems among hedge funds and possible derivatives-related losses at large institutions over the past two days also weighed on the market, dealers said. Swap spreads tightened slightly from levels not seen since the 1980s, they added. ''If you look at what accounts do these days, they sell swaps, and the swaps market has gotten obliterated in the last few weeks,'' said a high-yield corporate bond trader. biz.yahoo.com

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