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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: Glenn D. Rudolph who wrote (20904)	10/9/1998 12:59:00 PM
From: H James Morris	Read Replies (2) of 164684

Glen, I asked JohnK over @ TMF for the 'Things' Junk bond status. Here's his reply. <I don't have an update today, and the 10 year Treasury is taking a beating, so Amazon's bonds are likely worse off than yesterday's close of... 14.13 % YTM, for a spread of over 950 basis points over the Treasury. The whole junk bond market is in the toilet though, so it's difficult to tell how much of the beating is Amazon specific and how much is general risk aversion in the market. As recently as last week they had traded back to 11 % YTM. The price is from IDC, which was Barron's source when they quoted the bond a couple of weeks ago, so I consider it accurate.

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