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Politics : Idea Of The Day
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To: GROUND ZERO™ who wrote (23346)2/9/1999 1:30:00 PM
From: Judy  Read Replies (2) of 50167
 
GZ, the markets are already in the midst of a healthy correction and showing respect to Greenspan prior to the Humphrey Hawkins testimony this week. With the perception that the Feds will be inclined to raise rates due to the unexpected numbers, fund managers are realigning their portfolios to manage risk according to the perception.

Message 7679922

Fundamentally I don't see indications in the long-term that says inflation is a problem. So while the long bond may edge up due to the perception of an increase in interest rates, the budget surplus will certainly cap the long bond. With the largest budget surplus in history, the bonds just won't bust out far.

Bottomline is that the market remains robost, I await the a/d to gradually improve as the market chops around for a few weeks. Will wait until after Greenspan speaks to initiate new positional trades.
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