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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (59373)5/15/1999 2:02:00 AM
From: S. maltophilia  Read Replies (1) of 132070
 
MB
Interesting. I'm the owner (long) of the entire open interest of TYXIY. I think eventually your scenario comes about, but not until past this fall, or the market's. In the meantime, Easy Al keeps on shoveling out the liquidity, and buyers of long paper get more and more reluctant. Oil stays up for a while, and nobody believes in the "core" inflation numbers except a few New Yorkers who don't drive cars or eat at home.
Until/unless the economy slows drastically, I see low long term yields more as an expression of faith in the current pair o' dimes and that faith is likely to get a good shaking soon.
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