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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (586)	5/5/2005 1:54:31 PM
From: RockyBalboa	Respond to of 6370

Brown Friday, crowding out. When everyone believes that the greenspan conundrum might end; theres always a corporation which can be downgraded. Treasuries spike again after GM cut to junk. I wonder what this wave of fly to safety buyer will say tomorrow, when employment numbers are due. One shall not overlook the political relevance of that; in a critical time the treasury can attract money at inferior rates, which is lost from corporate bonds by means of a downgrade in effect a textbook alike "crowding out" happens; this time not driven by interest rate levels but credit quality levels.