Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bakunin who wrote (77202)	3/8/2000 8:56:00 AM
From: BGR	Read Replies (1) \| Respond to of 132070

Michael, As long as I have you to keep myself honest! <VBG> But I think that I may have a defense, after all. I quote the relevant lines from that release (highlights mine). ... SUMMARY: The Department of the Treasury ("Treasury", "We", or "Us") is publishing for comment proposed rules setting out the terms and conditions by which we may redeem outstanding, unmatured marketable Treasury securities. While we have not decided to conduct redemption operations, we are publishing this proposed rule to obtain comments on the mechanism by which we might conduct such operations. ... I think that it was a panic-led short covering rally. Given the present inflation situation, there are hardly any fundamental reasons for interest rates to rise. So, those who were shorting the long bond essentially panicked when the treasury department announcement came - that the proposed rules are about to become real ones - and a short covering rally ensued. This is how I see it anyway. Your take? -BGR.