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To: Ilaine who wrote (1664)	1/30/2000 8:34:00 AM
From: limtex	Read Replies (1) \| Respond to of 35685

CB - the author states that the United States government is much more concerned with the bond market than the stock market, because it finances its own operations with bonds Thaks for the article. I'll read it a little later. In the meantime Bonds are a very very big concern of the Government when the Government is borrwoing money. But when it is repaying debt the issue of bonds becomes one of structuring the most efficient path of repayment and the major issue of bonds becomes soemwhat less important. Same for families. If you are repaying your debt you may much less concerned about your lender than if you were about to borrow some more. No difference. Also Governments are IMHO very very slow learners. It has takne them a very long time to work out that we are in the middle of a business expansion unparaleled in all of history fuled by what we call the techs. And the techs have been fuled by the Stock Market. If you hurt the market you hurt this fantastic expansion. It is as simple as that. As proof I offer first the British and second the Germans. Only a very short time ago neither of these countries stock exchanges had much by way of technology shares or tech sectors. Now they both ahve booming tech sectors and indeed tech stock exchanges mimicing the NAZ. In fact the NAZ is about to set up in Britain to fuel it more. Now we will see an expansion of this busienss expansion fueled by tech stock markets in Britain and in Europe too. Worse still for the bond market is more and more people incuding the US Government 'downgrading' the whole idea of bonds in the face of the clear benefits being provided by the tech expansion. So while many bond analysts and eschatologists seek ot interpret the inverse yield of this or that length of bond leading to the end of the World they fail to notice that the whole issue of bonds has become a lot less important than it was even only a few months ago. Best regards, L