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To: paul ross who wrote (6911)5/14/2004 9:39:34 AM
From: yard_man  Respond to of 60911
 
kind of ...



To: paul ross who wrote (6911)5/14/2004 9:58:36 AM
From: yard_man  Respond to of 60911
 
take for instance today -- they said the core rate is up -- what would you expect that to do to treasuries -- well, I can look at it two ways --

yesterday folks were anticipating a bad number -- they sold the expectation and bought the news

OR

folks believe the number and it was a surprise and makes raising the short rates more likely -- bond "vigilantes" are taking some encouragement that something is going to be done -- maybe more like 1/2 pt, instead of 1/4

OTOH -- it could just be black boxes reallocating away from stocks into bonds

what's ur theory? <VBG>