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To: Jerry Salem who wrote (696)	9/1/1999 6:57:00 PM
From: Patriarch	Read Replies (1) \| Respond to of 1285

Jerry, Contact SI Bob to take care of the thread header. Just send him a PM. I've done it before and it takes a day or two. Regards, Pat

To: Jerry Salem who wrote (696)	9/3/1999 9:33:00 AM
From: MSB	Read Replies (2) \| Respond to of 1285

Its looking to be a good day for most of the market today especially for interest rate sensitive stocks: ---------------------------------------------------------------------- Friday September 3, 8:38 am Eastern Time INSTANT VIEW/U.S. stocks seen lifted by payrolls NEW YORK, Sept 3 (Reuters) - Wall Street stocks were expected to open higher on Friday after data showed U.S. job and wage growth was weaker than expected in August. The U.S. Labor Department reported nonfarm payrolls employment increased by 124,000 in August with the unemployment rate falling to 4.2 percent and wages rising 0.2 percent. Economists polled by Reuters, on average, expected 220,000 new jobs in August, with a 0.4 percent increase in average hourly wages. The unemployment rate matched expectations. Following are analysts' comments regarding the report: HUGH JOHNSON, CHIEF INVESTMENT OFFICER, FIRST ALBANY CORP ''These are really good numbers. You should have a strong rally in both the bond and the stock markets. (The) average hourly earnings increase was lower-than-expected. It appears these numbers are a preliminary, solid sign economy may be in the process of slowing. That is precisely what the credit markets wanted and what the Fed wanted.'' BARRY HYMAN, MARKET STRATEGIST FOR EHRENKRANTZ, KING NUSSBAUM INC.: "The market should react very positively to this. Both the employment number and the wage increase were positive news for the market. ''They both came in less than expected. ... I expect the market to rally quite nicely off these numbers.'' THOM BROWN, MANAGING DIRECTOR OF RUTHERFORD BROWN AND CATHERWOOD ''That number is way lower than the forecast. That's going to do a lot to allay the fears that the Fed is going to raise rates again.'' ''That is sending the futures sky high. The bond is obviously improving and that is very positive for the market.'' ''We're going to have a big rally today.'' ROY BLUMBERG, MONEY MANAGER AT SHEER ASSET MANAGEMENT "We're on a tightrope. Every week and every day, everyone's wondering what the Fed is going to do. So right now, it's let's not be concerned that the Fed will tighten. This rally could be fleeting and short-lived, but it obviously suggests we can momentarily walk away from those Fed tightening fears for now." The September Standard & Poor's 500 index future surged 18.8 points to 1,339 after release of the data. Bonds also surged, with the 30-year U.S. Treasury up 1-11/32 to yield 6.03 percent. ------------------------------------------------- I feel sorry for anyone holding a short position today in just about anything. CMTN was showing 10 points up above its close yesterday. Damn!! Its days like this I wish I could stay home from work. Good luck, all, Mike