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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (18506)	6/1/1998 4:02:00 PM
From: Lee	Read Replies (1) of 50167

Hi Ike,..Re:<<NAPM numbers and positive data which may show slow down early next week>> NAPM was slightly weaker but still showing a strong economy. napm.org Purchasing Managers' Index (PMI) at 51.4%, Production, New Orders, and Imports Growing, Employment Rising, Prices and Exports Declining Bonds weren't impressed and Tyx went from 5.767 to 5.785 after the report. We are at the lower edge of the now 6 month old trading range and it's not clear what might move the rates lower unless we would get a lot of 'safe haven' type buying from SE Asia. chart1.bigcharts.com:80/report?r=chart&onbad=badsymbol&country=us&time=7&freq=1&compidx=aaaaa%3A0&ma=4&maval=9&uf=7168&lf=1&type=2&style=3&size=2&symb=TYX&comp=&sid=11421&sec=x&xyz=11608984&s=7752 Market seems more fixated on earnings now, especially since it is almost universally accepted that the Fed is not going to raise rates any time soon. Since we are at the lower end of the Tyx range, I'm holding my July 121 puts on the Sept bond a little longer and also because of the jobs data coming this Friday. Good luck and best regards, Lee

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