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To: Jim Willie CB who wrote (22839)	7/21/2003 10:39:57 PM
From: lurqer	Read Replies (1) \| Respond to of 89467

PIMCO's Paul McCulley On the topic of yields, consider this portion of a conversation. I read something in the WSJ last week that said all kinds of selling will be triggered around 42.75 or so. That lines up with the quick run to 48-49 I expect if that range is hit. from investorshub.com I read in the WSJ yesterday that if/when TNX hits 4.25 there are a ton of mortgage companies (and the like) which will have to rework their hedges, (in some way I don't really understand), but with the result being that they will have to sell TNX in large volume. from investorshub.com and The gist of the article suggested the squeeze would happen above 42.50 on the TNX. from investorshub.com Any thoughts? lurqer Edit: Found While mortgage rehedging and other technical trades may have exaggerated the Treasury's selloff this week, that selling could get a lot worse if the Treasury 10-year note's yield rises to 4.25%, analysts reckon. If that happens, heavy selling in Treasurys could last for days, and yields would shoot up much faster. (p. C14 of Fridays' print edition.) from investorshub.com Sorry, missed it on my first scan.