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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (5420)	12/14/2001 3:48:31 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 36161

re: Roach ["On Monday he is going to tell us where all the money-supply growth is going"] ...I'll tell you today where it's going(vbg): It's being sucked up by the BOND MARKET. ...here's some unrelated misc food for thought. The last couple of years Xmas, Year End & Performance oriented Bonuses drove Q1/Q2 spending ....it won't be there in early 2002. Also; the Mortgage Refinance Boom is now over...put a fork in it....and that was what was driving consumer spending of late fwiw. Mortgage Rates have now backed up to where they are higher today; than they were in January 2001 when the Fed began this series of cuts. 11 Fed Cuts & Mtg rates are now back to where they were, if not a tic higher.

To: ild who wrote (5420)	12/14/2001 4:37:41 PM
From: pater tenebrarum	Respond to of 36161

LOL...funny enough, i rarely read him. probably because i already know what he's going to say...-bg- where's the money going? well, institutional money market fund assets for instance. dare i say it? s-s-s-savings books and CDs. t-bonds and notes (banks like to play the yield curve spread in recessionary times). the stock market. convertible bonds (coupled with the requisite shorting of the underlying shares). everyhwere BUT the real economy...industrial and commercial loans as well as commercial paper issuance are in a steep decline.