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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: John Pitera who wrote (38830)5/5/1999 10:14:00 PM
From: Bonnie Bear  Read Replies (1) of 86076
 
there's been a huge spread between corporates and treasuries...it just looks like the spread is getting smaller by raising the yield on long treasuries and lowering long corporates...and mortgage rates are going up. The feds really fear a real estate bubble and raising the rate cools it off. but I can't see them raising mortgages above 8% (7% on treasuries) because nobody will buy houses. So...they need to get mortgages up, raise short-term rates but keep from popping the corp bonds. yup, 6.33 is the number for GE and MRK. I didn't look at IBM and T they must tank below 6 because they were swilling at the bond pig trough recently.
BTW DUC went screaming UP today it holds noncallable long corporates, the utility junk went up, but the bond index (a lot of treasuries and mortgages) went down. we're probably in the sweet spot for bonds, when the internuts crack all that money will help sop up the bond swill that T is putting out.
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