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Politics : Ask Michael Burke

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To: Mike M2 who wrote (75113)2/3/2000 12:32:00 PM
From: Earlie  Read Replies (4) of 132070
 
Mike and all:

Amazing action in the markets today. Green span wimps out, yield curve inverts more, stocks take off,...... then fall. What next?

The rumours about big hedgies in trouble won't go away. If accurate and if they were holding large short positions against the U.S. long bond (perhaps big George Soros is one of them?) then some of the action starts to make sense. If the pain became intense as the long bond levitated this morning, EVERYTHING, might have been for sale at some of the hedgematics.

As I write this, the Fed has a "No Comment" about rumour of an emergency Fed meeting (re hedge fund problems?)

Should be an interesting week. (g)

Best, Earlie
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