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To: Mark Fowler who wrote (80575)10/14/1999 11:50:00 AM
From: Bill Harmond  Read Replies (1) | Respond to of 164684
 
I don't think anyone knows where the inflation rate is, and that's the problem. The long bond's equilibrium is historically CPI + 4%.

It may not be overdone, but I doubt the yield is in danger of running away. I'm not raising cash because of this.