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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (5482)	1/19/2004 11:39:40 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Richard Russell, of Dow Theory Letters, is one of the few other newsletter editors who also has focused on the declining money supply. He believes that it is at least part of the explanation for what otherwise is the "real mystery" of why bonds have been so strong at a time that precious metals and the stock market also have been going up. Russell doesn't doubt that the Bush Administration and the Fed are trying their darnedest to inflate the money supply. But, he bids us also to remember, "there are powerful deflationary forces operating in the world today." According to Russell, bond investors may have concluded that the Fed isn't inflating fast enough to counter these deflationary forces. cbs.marketwatch.com