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To: Spekulatius who wrote (253466)	7/31/2003 11:44:26 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 436258

Spekulatius, I own FAX, FCO and GIM (old TGG) that I was collecting back in 2000. These were all purchased, (averaging down) with yields over 9% which has been nice income. I also own a small position in 2011 (5.71%) and 2021 (6.57%) treasuries that I purchased in January 2000. My plan at that time was to average down, but never got the chance. <g> I opted for PSAFX instead of BEGBX. BEGBX was a tiger when the US dollar was falling. I recently added to FCO on the last dip and will add again in the mid 10's. I assume your question on bonds is US treasuries. I think we will have to watch what happens with the problems in the agency mortgage backed securities market. As long as the spread investors are selling it makes no sense in trying to catch the falling knives. These folks have to sell and IMO forced selling will not pay attention to resistance. There have been days where it looked like they were close to lock limit down which tells me there is panic in the streets. Right now my head is in a place where I would rather own Australian, New Zealand or Canadian government bonds than US treasuries. If the US dollar continues its correction there could be some opportunities for higher yields with these instruments. Right now I own some 2006 Australian and New Zealand government bonds and some 2004 Canadian government bonds. I have not looked at MGF.