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Technology Stocks : WCOM
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To: kthrust who wrote (3118)8/4/1998 2:22:00 PM
From: dougjn  Read Replies (2) of 11568
 
I think all he means is that though interest rates might seem near a bottom and therefore about to turn up again for a bit, the market has appetite for the large Wcom debt offering. Which suggests that the market may feel rates have lower still to go. (Since who (including debenture buyers) wants to buy an offering at the absolute bottom?)

I.e., I think he's saying that rates could have lower still to go. Wcom is being used as a market tell. Nothing negative about wcom at all from the seer, JJCramer. Who last he said had it as one of his five largest holdings.

Doug
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