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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5156)	11/28/2001 11:08:32 PM
From: macavity	Read Replies (2) \| Respond to of 33421

Bonds! ...If you believe that markets know better than government bureaucrats, there's another clear sign that interest rates have bottomed: By issuing bonds 20 years ago, Uncle Sam locked in the highest cost debt in the nation's history; today Washington eschews borrowing long term, even though rates are the lowest in a generation. it's not their money - is it? saxobank.com -macavity

To: John Pitera who wrote (5156)	11/30/2001 8:29:07 AM
From: Terry Whitman	Read Replies (1) \| Respond to of 33421

Thanks for posting that article John. My contrarian nature has me casting doubts about the decreasing rate cycle being over longer term, however. When have that many economists and analysts all on the same page ever been correct? <g> Besides that- Parallels drawn to the previous secular downward cycle in rates (1920-1946) suggest rates may have another 5 years or so to bottom. K-wave theory agrees with this, and suggest increasing deflationary pressures for several more years also. The major indices can't seem to break it out over the 200dma's. New lows were perilously close to new highs after just a couple of days of selling. Could we be looking at an Intermediate Term top here after the obligatory first of the month buying? TW