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To: Steeny who wrote (21217)	6/10/1999 1:29:00 PM
From: Tom Tallant	Respond to of 41369

Steeny, I agree that we will probably see 6.25%. Maybe I am the eternal optimist...but what I see is this...Historically, bonds hit some mythical level and there is a deluge of buying...The question becomes what is the mythical #? Once they stabilize...Stocks generally head up as the uncertainty diminishes. I am a firm believer that it is the UNCERTAINTY that hammers stocks more than the fact. It sounds odd...but I would much rather there be a panic in the equity and bond markets to form a base to work with than have money sit on the sidelines waiting for it to happen. Remember...much of the Long Term Capital mess was a result of the ABSOLUTE lack of knowledge because Hedge funds are not required to disclose their holdings. From what I can see...It is not Fund money that is jumping ship...it is Mom and Pop who are getting spooked. Any thoughts would be more than welcomed. Regards, Tom