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Technology Stocks : Ascend Communications (ASND)
ASND 212.00-0.6%3:59 PM EST

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To: Pierre Aydin who wrote (18104)10/17/1997 3:03:00 PM
From: Andie Wei-Ku Lin   of 61433
 
Pierre,

The MOVEMENT in the bond market is what moves the stock market.
NOT the absolute value of the bond gain/loss. Like I said before,
look at an intraday chart and follow TICK BY TICK the movement
in the bond, and you will see how it correlates to the movement
in the stock market.

Adding this point: The bond market could have been +1 1/2 points
(i.e. a decline in yield), and if it gave back half of that
gain, the stock market would have still fallen, even though the
bond was POSITIVE for the day on an ABSOLUTE value basis.
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