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To: Giordano Bruno who wrote (7130)	2/5/2000 3:23:00 PM
From: KyrosL	Respond to of 42523

I am a bit puzzled as to why the treasury buybacks and reduced auctions was considered such earthshaking "news". Treasury announced long ago that they will be buying back 30 year issues, and repeated it over and over again. They have been reducing auctions for more than a year. The surplus data are well known and everybody can see that the surplus is rising rapidly, so the auction reductions will be a lot bigger. So what was the "news"??? Could McCain's sharply improved fortunes have anything to do with it? His tax cut size is Clinton-like and if he wins he certainly is not going to spend like Gore or Bradley. Anyway, seems to me that "head in the sand" syndrome is pervasive and not only confined to the stock market.