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To: Gabriel008 who wrote (24186)	12/4/1997 11:45:00 AM
From: jim kelley	Respond to of 176388

Gabriel, There is a good chance the long bond will drop below 6. It has already been below 6 in intraday trading.

To: Gabriel008 who wrote (24186)	12/4/1997 11:46:00 AM
From: Lee	Read Replies (1) \| Respond to of 176388

Gabriel, Long bond has broken through 6%, low today is 5.989%, right now it's at 6.003%. Fed did a coupon pass (from CNBC). If cash bond closes below 6% today, there is a terrible hurdle tomorrow at 8:30 am. New jobs (Nov. non-farm payroll) estimated at 200k by Jack Carl, but I've seen estimates of >300k. Also, talk of "seasonal adjustments" by the BLS jacking the number higher. The stock market has done well all year with interest rates ranging from 6.7% to today's low, so I'm not sure the bond market will inhibit the supposed "year end rally". Lee