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To: double-plus-good who wrote (48848)	8/4/1999 8:13:00 PM
From: double-plus-good	Respond to of 95453

OMNI earnings not a pretty sight. At least one of the two analysts called it right, though. biz.yahoo.com ++good

To: double-plus-good who wrote (48848)	8/4/1999 9:02:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

OT - ++Good: The key to that Bloomberg story is NOT the Dutch auction, although it is remarkable that the Treasury is even in a position to contemplate such a step. IMO the key phrases are here: "The Treasury also announced it would sell $37 billion in new notes and bonds next week, while cutting back the number of auctions of 30-year bonds" "By reducing the size of some debt auctions, the Treasury has been shrinking the size of investor-held debt for the past year or so. The Treasury is forecasting it will reduce its publicly held debt by $87 billion in the fiscal year that ends Sept. 30. The government has retired about $112 billion in publicly traded debt since May 1998." The Treasury is and will be doing two things: 1. Reducing the NUMBER of auctions. 2. Reducing the SIZE of auctions. Thus injecting even MORE CASH into the monetary conduits that would otherwise be sucked up by the Govt. Hmmmmmm! The Fed taketh away while the Treasury giveth. In effect, there is no FISCAL tightening going on. Gee! There must be an election coming up? BWTFDIK?! Very bad news for the bears - VERY BAD! JMVVHO Bull