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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (64691)	7/16/1999 11:21:00 AM
From: Earlie	Respond to of 132070

Mike: The bond markets agree with you. They are effectively doing Greenspan's job for him. As noted earlier, Treasury selling is slowly but surely taking away the Fed's options. Rates can't be pushed down when the Treasuries are being sold. The long bond is flirting with yields that triggered last Fall's bond market "lock-up", and this on the backside of last year's three rate reductions. Best, Earlie