Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (251591)	7/23/2003 4:05:07 AM
From: Tom Smith	Read Replies (1) of 436258

bond rout: morganstanley.com "But that’s not all. One of my most seasoned trader compatriots has always warned that a yield curve which “steepens in a downtrade” is emblematic of the most virulent of bear markets. And that’s exactly what is going on today. The spread between 2s and 10s in the Treasury market hit 259 bp at the close on 21 July -- equaling the yield gap last seen in 1992. The traders are telling me that this “bear spasm” is now at risk of feeding on itself -- until or unless it is stopped by an unexpected weakening in the economy or by direct intervention by the authorities." You will respect my a-thor-a-te'....Cartman, SouthPark.

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