Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (30887)	10/8/1998 3:14:00 PM
From: bearshark	Read Replies (2) of 94695

Hi GZ: One of the things that troubled me fairly early today was the about-face in treasury rates. The 30-year bond opened with rates up; 10 and 5-year notes opened with rates down; and 13-week bills opened with rates down. Although this was mixed, the three shorter term treasuries all were gathering funds as I expected from a declining stock market. However, during the day the rates on the notes made a dramatic turnaround and are now higher indicating selling. The only thing left are the 13-week notes with rates dropping strongly. The only thing I could think of to account for this was an anticipated rate cut by the Fed on fed funds or the discount rate. Do you have any ideas or thoughts about this action on treasuries today.

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