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Politics : Ask Michael Burke
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To: Tommaso who wrote (61515)6/5/1999 3:47:00 PM
From: Thomas M.  Read Replies (1) of 132070
 
Two reasons the U.S. bond market has seen a major top:

1. The CBOT has changed the contract specification to call for a 6% coupon from 8% (the last time this was considered was September 1993).
2. A Wall Street practitioner has been replaced as U.S. Treasury Secretary by an academic.

Tom

(from adtrading.com
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