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To: Frank Ellis Morris who wrote (133867)6/22/1999 4:33:00 PM
From: D.J.Smyth  Read Replies (2) | Respond to of 176387
 
frank <<on the upward move and we now have this damn problem with the long bond over 6%. What the heck needs to be done to get the yield down? >> what is absurd is not that the rate is 6%, but that CNBC and other media types are stating this could be 1987 all over again. in 1987 the long bond was over 9% before the market tumbled. everything is relative, but we have 6.06% compared to 9.35% in 1987 a 40% discrepancy (as she ginergly wiped the hair from her face looking flirtatiously at the broadcaster). pe ratios were higher on average in 87 for the S&P, but not the nasdaq - but we didn't have the internet skewing the curve in 87 either. throw out the nets and NSDQ average PE is lower now than in 87.