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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: N who wrote (1315)2/28/1999 1:01:00 AM
From: Peter Singleton  Read Replies (2) of 3536
 
Nancy,

<<"We've got a market that's priced at a level that we can't afford to
back up in bond yields, and that's what's happening," said Bill Meehan,
chief market analyst at Cantor Fitzgerald.>>

I think what Bill is saying is that if the recent interest rate rise is evidence of a secular change to higher interest rates, you can turn out the lights on the stock market bubble ... this thing is coming down, and down hard.

What he doesn't say, but could, is if this is happening at a time of monetary easing, then the Fed may have used up its silver bullets.

Peter
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