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To: Patrick Slevin who wrote (43514)	5/19/1998 2:03:00 PM
From: Kevin	Read Replies (1) \| Respond to of 58727

>>> So what gives here? Early news or the usual pre-announcement rumors? <<< Looks to me that people want money off of the table prior to the announcement. Block and non-Block MF have both been dropping consistently since lunch. Either people are closing positions, or shorts are far outnumbering longs for the last 2 hours (which would display the same effect and should give a similar result). Once the news is out, and if we rally some, I may buy puts with a target that is now down to 1108. Just a quick few points if I'm around to babysit the position.

To: Patrick Slevin who wrote (43514)	5/19/1998 2:04:00 PM
From: Lee	Read Replies (1) \| Respond to of 58727

Patrick,..Re:<< So what gives here? Early news or the usual pre-announcement rumors?>> If you're talking about Tyx going back to 5.929%, sometimes in the past, when the market has been doing the work of the Fed, and there is no official tightening, we've had a sell-off in bonds. This is unusual and only brought up because the bond market seems to have been compensating for all the things that contributed to the 4.2% GDP last quarter already. Just another possibility. Regards, Lee