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

To: T L Comiskey who wrote (22824)	7/21/2003 1:08:56 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

notes from CNBC interview of PIMCO's Paul McCulley talk of Fed buying longterm bonds is not going to happen bond market decline in recent days represents that unwinding of expectations Greenspam "blatantly misled the bond market" (his words) rates now are adjusting to a conscious disappointment he applauds the Fed's plan to keep 1% rate on short end they need to clarify how long they will keep rates low like how long in terms of bringing about economic results not how long in calendar months, length in time bond returns of 10% annually were a journey, now over he likes munis and state bonds, which he expects to outperform / jim