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To: Gersh Avery who wrote (54331)9/30/1998 12:56:00 PM
From: Lee  Respond to of 58727
 
Hi Gersh,..Re: the long bond is setting the lead today

Been noticing this for about 2 months now and almost every day it holds, but does deviate occasionally. Unless the long rates head back up it doesn't look like we can get a turnaround since we need the financials to support any sustainable rally.

Thanks FredE - just got to plot the spreads. Steepening has to happen at the long end rather than the short end falling more.