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To: SKIP PAUL who wrote (14388)8/31/1998 10:48:00 PM
From: SKIP PAUL  Respond to of 152472
 
Globex at 10.45pm

S&P 500 SEP98 971.50 +1750

NSDQ100 SEP98 1153.75B +2575



To: SKIP PAUL who wrote (14388)9/1/1998 2:06:00 AM
From: Clarksterh  Respond to of 152472
 
Skip - **OT** Sorry for being flip earlier. My point was that, for me anyway, declining interest rates are only one of the reasons to be invested in stocks, and my reasons had better be pretty strong ones given the increase in the bond market associated with the same decrease in interest rates.

In particular, there is a long term secular slope to the stocks which just doesn't exist for bonds. Of course if you are in it for the medium term, interest rates are good to track as a predictor of the stock market, but it isn't clear to me the change in stock prices driven by the interest rates are, or should be, any greater than the change in the bond market driven by the same change in interest rates.

Clark