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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (4492)	8/14/2002 11:39:49 AM
From: mt_mike	Read Replies (1) \| Respond to of 89467

Jim, I thought we would get below 4% on the 10 year but not this quick. Regarding mortgage prices dropping further I still think we get below 6% on a 30 year in the near future. Mortgage backed securities are still seen as a safe investment offering good yields. A drop below 6% would trigger another round of refinancing and perhaps allow a surge in retail sales towards the end of the year. I am now thinking the floor drops out from bonds and the market early next year, maybe caused by foreign selling. By the way nice exchange with Philip yesterday, learned a lot from you two.