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To: GST who wrote (69552)7/25/1999 11:14:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 

Glenn - a bearish view of sharply widening credit spreads. Wide credit spreads indicate a
price premium for various 'risk' factors. You don't know anybody speculating on
anything risky -- do you? :)

This is from David Teece -- a 'professional bear'. The rising spreads are real, the cause
is unknown. How bad is it? "Today, 10-year swap spreads traded at the widest levels in at
least 10 years, surpassing even the levels during last fall's crisis."


GST,

You are going to force me to take more macro economic classes. It has been many years since I took them and they were never as detailed as you:-) Wow!!!

Glenn