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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (12867)	12/11/1998 1:55:00 PM
From: accountclosed	Respond to of 86076

I mean it dropped a basis point at a time there for awhile. Someone sold some serious bonds. It seems to have bounced now, a little.

To: MythMan who wrote (12867)	12/11/1998 2:32:00 PM
From: accountclosed	Respond to of 86076

You know this bs dichotomy of flight to trash in stocks and flight to quality in bonds. I agree with Jim Grant that someone has to be wrong. Well, anyway I have a chart in front of me showing Moody's Aaa Index spread to Long treasury. The spread hasn't been this wide since 1986 and that's about a tie. The most recent time it was really greater than now was in 1977.