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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (15390)	4/10/1998 9:58:00 AM
From: Haim R. Branisteanu	Respond to of 18056

Barry, the long bond and most important the notes are at a substantial premium to inflation. I measure inflation for the last 6 to 9 months. This indicates to me that there is gradual selling from big holders. In the Kahuna tread a while ago, I speculated as to the mechanism of this selling. Keep in mind that the budget deficit is shrinking, fix income funds are growing (due the full employment - pension funds) therefore more demand for treasuries. The last anecdotal evidence to this theory is the oversubscription of the Korean debt. Risky but in big demand!! BWDIK HAim