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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (12698)3/23/2000 2:00:00 PM
From: Investor2  Read Replies (1) of 15132
 
"In the bond market, prices continued their ascent as investors shifted out of the agency market and into Treasurys following comments on Wednesday from Treasury Undersecretary for Domestic Finance Gary Gensler.

A rout in the agency market was sparked Wednesday after Gensler's comments that Treasury would recommend to Congress that it cut off seldom-used credit lines backing agency issuers. The remarks produced a wave of selling in the agency markets and a huge rotation into government issues, benefiting the intermediate area of the curve in particular.

The 10-year Treasury note jumped 23/32 to yield 6.03 percent while the 30-year bond surged 1 10/32 to yield 5.88 percent."

cbs.marketwatch.com

Best wishes,

I2
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