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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 2:37:00 PM
From: Justa Werkenstiff  Read Replies (1) of 15132
 
From Reuters:

"Municipals appeared to be tracking rising U.S. Treasury prices, which have improved as investors shifted assets to Treasuries from agency and corporate debt on the heels of a Treasury official's reminder that debt from agencies like Fannie Mae <FNM.N> and Freddie Mac <FRE.N> is not guaranteed by the government."

Thank you, Mr. Treasury Undersecretary. Not only have you enriched me today, you have set the equity markets on fire by pushing treasury rates lower again. That is wealth effect for everyone. Bond holders and equity holders will party all day. Greenspan must love you guys.

You can't fight the treasury.
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