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To: John Pitera who wrote (19313)	2/12/1999 12:42:00 PM
From: Defrocked	Read Replies (1) of 86076

There are a whole lot of folks that wished they already had shorted this move. I think it will tough to retrace 10 bps without substantial hedging emerging. Of course, if stocks tank shorts will get reamed. BTW where is that Clinton relief rally in equities? Must admit quick profits make me nervous. Do you remember how long its been since we've had 2 pt.moves in bonds? I'm surprised that bond vols. are still under 10%.

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