Elaine Garzarelli Message Board

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Non-Tech : Elaine Garzarelli

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To: Mark who wrote (73)	10/30/1996 12:52:00 PM
From: Andy Nemo	of 292

Hi Mark We have a hedge fund trader on our team. He feels that if we get growth down at about 1%, long bond yield will be in the 5.9-6.2 range. This is really what he believes in. He also think that this of course is good for the bond market, but bad news for the stock market. But tech, metals will get hurt pretty badly. Oil, copper and aluminium prices dropped sharply on the above mentioned news. Drugs, banking and more of defensive stocks will outperform the market Pretty typically! But I think he'll maybe right. He believes in a sideways market for half a year or so, with the Dow in the range of 5700-6100. He could very well be true. Also the USD weakness against European currencies could help the multinationals earnings. But will hurt the already fragile European economy. Comments? Andy

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