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To: pater tenebrarum who wrote (32555)10/31/2000 10:17:39 AM
From: AllansAlias  Read Replies (2) | Respond to of 436258
 
Recall our little discussion last night. XMI is responding and INDU is struggling some -- it's at the old diamond apex/uptrend line and the 1994 trendline is in play here. A jump over that mess would be amazing.



To: pater tenebrarum who wrote (32555)10/31/2000 10:51:35 AM
From: LLCF  Read Replies (2) | Respond to of 436258
 
<the market sure seems intent on ignoring faltering liquidity in bond land >

Ho ho ho... FT today:

"Markets uneasy as ATT seeks $25bln credit facility"

"Marks what would be the largest facility of it's kind ever arranged."

I was wondering why the market was rallying... party on!

"By arranging a large stand-by bank facility, ATT would be less dependent on the vagaries of the short-term commercial paper markets..."

In other words, we can't borrow anywhere else.

"The company is believed to have indicated to it's bankers that it plans to draw down part of the facility as soon as it is in place."

Ho ho ho.... something smell?

DAK

PS, their 10 year is now 228bp over treasuries... looks like that's about to widen even more... Ho ho