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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (8082)	6/19/2004 12:34:25 PM
From: russwinter	Read Replies (1) \| Respond to of 116555

I agree with Reynolds (and disagree with Mauldin) that the carry trade is alive and well and has been "put back on". There were $6.706 billion in permanent injections provided by the Fed between 5-12 and 6-9 to insure it too. Another in a long line of "watch the Fed's actions, not their words" lessons. Mauldin is making a big mistake following words IMO.

To: mishedlo who wrote (8082)	6/19/2004 1:49:49 PM
From: Crimson Ghost	Respond to of 116555

Brian Reynolds analysis makes a lot of sense. BTW by far the best acting segment of the fixed income market now is floating rate loan funds. These have modest current yields in the 3% range, but the interest rate floats upward as market rates rise. They usually involve medium to lower rated credits, so default risks could become a problem if the economy sinks back into recession. But that is a problem for the future; right now acting very well. My floating rate fund (FFRHX) is just about at its high for the move.