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To: John Pitera who wrote (39630)	5/9/1999 2:18:00 PM
From: NickSE	Read Replies (1) of 86076

Hmmmmm, I wonder if smart money will be heading for the exits way before the 4th quarter... Y2K fear could affect U.S. asset-backed Q4 volume ----A growing number of U.S. asset-backed players are considering staying out of the fourth-quarter market for fear of exposure to the Y2K bug. ''That's one a lot of people are talking about right now,'' said Thomas Hourican, head of asset-backed securities (ABS) research at Chase Securities. ''I'm not sure Chase (Securities) is one of them, but a lot of (investment) banks around the Street are advising a lot of clients to avoid the fourth quarter.'' ABS are bonds or notes issued by a bank or other lender and backed by an expected or predictable cash flow such as credit card or home equity loan payments. Worse, many market participants may avoid the market not because they foresee a technological disaster but simply because they are hearing that their peers may avoid the market. Many are concerned that if too many players bow out, the securities will be less liquid. -- Reuters

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