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To: Abner Hosmer who wrote (5149)	1/3/1998 3:14:00 PM
From: Crimson Ghost	Read Replies (4) \| Respond to of 116753

Tom: That is not how the bond market sees it. That market is saying LOUD AND CLEAR that Greenspan will cut rates and soon. He undoubtedly is reluctant to ease with the domestic economy still strong, but has to look at the global situation as a whole. The surging dollar is intensifying global deflationary pressures and adding to the debt burdens of the Asian tigers. He has said of late that deflation and inflation are both real dangers. BTW, I have heard (and this is only a rumor) that Greenspan takes his orders from Bob Rubin, and Rubin is urging him to cut rates.