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To: John Pitera who wrote (52685)	7/22/1999 11:31:00 AM
From: Defrocked	Respond to of 86076

I've been watching it closely.<g> Bonds shouldn't have given up so much so quickly IMHO. While Fed website is tied up, Bloomberg transcript has following AG quote: "If new data suggest it is likely that the pace of cost and price increases will be picking up, the Federal Reserve will have to act promptly and forcefully so as to preclude imbalances from arising that would only require a more disruptive adjustment later -- one that could impair the expansion and bring into question whether the many gains made can be sustained." Guess some bond traders don't like waiting for new data and would rather see active preemption by Fed.