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To: Lucretius who wrote (55672)	8/9/1999 6:36:00 PM
From: S. maltophilia	Respond to of 86076

10 & 30 year bonds are busy becoming the 9 3/4 & 29 3/4 year bonds. The when issued new bonds were 6.06% & 6.13% respectively. Why anyone (except dealers) buys these on the run bonds and screw themselves out of 25-30 basis points is beyond me. I have a couple of TYXIY left and I was perplexed as to why they (and other options of the class) were offered at a discount to intrinsic value. Now that there is more supply coming, of course the yield drops.<VBG> Look for CNBC to trumpet a bond rally when the new bonds start trading regular way.