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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (2264)	6/10/2003 11:11:32 AM
From: Perspective	Read Replies (1) \| Respond to of 4905

<Agreed, but this is dependant on players willing to risk the trade... not simply on Fed action. I see this willingness DECREASING, not increasing.> Excellent point. The market must be confident that the Bernanke put will remain in place supporting bond prices, even as the promised inflation appears. You demand, then, that the bond market players pay attention to valuation and funnymentals, and while I trust them more than the stock market gamblers, I think they still might keep playing ball with the Fed's aims. Bond market participants don't seem to be concerned today that buying a 10-year with a 3.3% yield is foolish, because they believe some greater fool will come along in 3-6 months and buy it at a 3% yield. Of course, these days, greater fools abound... BC