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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (16401)	1/15/1998 10:16:00 PM
From: Lee	Read Replies (1) of 50167

IQ, Good evening, March bonds are stuck at 122^27. This is proving to be very strong support and every time bonds lose 10 or 15 ticks, the buyers come roaring in. Now, it appears that it might take some meaningful economic data or external event (like Japanese selling of treasuries) to get the market to correct. All eco news points to strength but bonds want to go up. economeister.com Also, for the past three days, both puts and calls have lost value because of the mostly sideways bond movement and getting close to expiration. If the Mar Bond ever gets going, the next support as you noted is in the 122^13 area so we are only looking at most a half point move. Is this the scenario that you see as well? Lee

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