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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (262237)	9/30/2003 12:45:47 PM
From: ild	Read Replies (1) \| Respond to of 436258

12:34 ET Bond Market Update : Treasuries sharply higher today, with the ten-year note presently up 27/32nd's in price, to yield 3.97%. Treasuries began trickling higher early this morning on reports that the Bank of Japan sold a single-month-record 4.46 trillion yen (over $40B) during the last month, ostensibly in an effort to stem the yen's appreciation versus the dollar. After consumer confidence and the Chicago PMI came in much weaker than expected, the rally in Treasuries continued. Simultaneously, Japan's Ministry of Finance confirmed rumors that there was intervention via the New York Fed this morning supporting the dollar against yen - providing yet another bid to the Treasury market. Also, there appears to be Treasury buying interest by MBS traders, evidenced by the outperformance of the belly of the curve (5's and 10's) so far today. All in all - several positive influences combining to push the market higher today. And, lest we forget, agency spreads are under pressure today with SEC Chairman Donaldson saying the SEC is investigating possible fraud at Freddie Mac.

To: patron_anejo_por_favor who wrote (262237)	9/30/2003 1:04:29 PM
From: ild	Respond to of 436258

RSA Rand goes up faster than POG. quotes.ino.com Time to add to DROOPY short. -g/ng- EDIT: GFI closing onto HMY