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To: AllansAlias who wrote (17581)	9/12/2000 11:25:24 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

they do. actually their presenter from the t-bond pit mentioned credit spreads today for the first time ever. he noted that t-bond rates are actually misleading here - rates for the private sector haven't come down at all, as the increase in default risk continues to be priced in. in short, that money managers are all jumping on rate sensitive stocks due to declining bond rates makes no sense whatsoever. the curve has been flattening a bit lately though... in any case, i would look for a great many economic trends that are taken for granted now to reverse in short order, as rising raw materials prices take an ever bigger bite out of profit margins and consumers pockets. one of the first things to be cut back sharply will be capital investment...the tech cos. are going to feel the pinch soon enough.