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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (21661)	7/31/1999 10:58:00 AM
From: Casaubon	Respond to of 99985

Les Horowitz: It will take two 1/4 point hikes by the Fed or some bad news that will bring the long bond up in price. interest rate hikes by the Fed will cause the long bond to sell off, thus causing the TYX (yield on bond) to increase. This is because old lower yielding bonds are less attractive than new higher yielding bonds, thereby making old bonds harder to sell, which lowers their price.