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To: Frank Ellis Morris who wrote (133876)6/22/1999 5:02:00 PM
From: D.J.Smyth  Read Replies (1) | Respond to of 176387
 
frank <<this time around the tolerance has been lowered to 6% and if something is not done to correct this crisis we are going to get smashed>>

how can this be? there's big money shorting the long bond as buyers are picking their rears waiting; it's a short term phenomenon; this isn't even close to geting eloped, someone is kissing the bride before she's married while the groom isn't looking.

it's always been the spread bw the long bond and the money market which has tipped the scales. most money out of the market remains in low yielding money market accounts, not the long bond; unless they're currently temporarily short. there's a ton of new debt coming on the market this week before rates anticipate to rise; so the longs for bonds are waiting