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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Chip McVickar who wrote (944)	10/27/1998 3:51:00 PM
From: Robert Douglas	Read Replies (3) of 3536

Chip, Not that it's that important, but one thing that kept gnawing at me from Cramer's article was his assertion that the bond market is 10 times the size of the stock market. What is he using as a yardstick? He isn't likely talking about total value since the value of equities in America is approximately $14 trillion (not sure if that was before August). That would mean the value of all bonds would need to be $140 trillion. Not likely! Does anyone have the numbers on this? Whatever the numbers are it is just not true that the bond market, however defined, is 10 times as important to the economy. And it certainly isn't true that the entire thing has “shut down”. Cramer needs to get away from the power-suit crowd and take a deep breath. -Robert

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