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To: Glenn D. Rudolph who wrote (70720)	7/29/1999 7:12:00 PM
From: GST	Read Replies (2) \| Respond to of 164684

''People are getting out of securities. They're selling stocks. They're selling bonds. They're not buying gold. They're getting liquid,'' said Doug Myers, vice-president of equity trading at Interstate/Johnson Lane in Atlanta. Its over Glenn. Thursday July 29, 6:46 pm Eastern Time FOCUS-U.S. data devastates shares, dollar, bonds By Michael Hughes LONDON, July 29 (Reuters) - European bourses, already reeling from a string of bad corporate results, were poleaxed on Thursday by higher-than-expected U.S. wages data, seen increasing the likelihood of a rise in interest rates. Bonds, the dollar and Wall Street stocks were also hurt by a U.S. Labor Department report that the second quarter Employment Cost Index (ECI) rose 1.1 percent after a first-quarter rise of 0.4 percent. ''People are getting out of securities. They're selling stocks. They're selling bonds. They're not buying gold. They're getting liquid,'' said Doug Myers, vice-president of equity trading at Interstate/Johnson Lane in Atlanta.