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

To: HairBall who wrote (22517)	8/9/1999 1:42:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

LG, i suspect money is moving out of the bond and into equities - an asset reallocation play. actually the fact that stocks ignore the bond market reminds me very much of '87 - back then stocks also continued up in the face of a plummeting bond until reality finally caught up with the stock market. i don't know where the breaking point is in the current mania, perhaps we need a 7% yield before stocks react perceptibly. almost 8% were needed on the JGB's to stop the mania in the Nikkei in '89. regards, hb