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To: Terry Whitman who wrote (19613)	2/14/1999 6:13:00 PM
From: accountclosed	Respond to of 86076

Terry, I think Bill will say that he agrees with what you said. I do. The reason that I said I was left confused about his position is that he has stated several times recently what you said. I.E. that bonds at these levels were somewhat attractive, but he viewed it mostly as a hedge against a meltdown. I think what happened on Weekend Squawk was that the economist between saying everything was rich (which meant who knows what ;-)), seemed to indicate that bonds might go down somewhat. Bill was looking past this issue trying to make the point that corporations were issuing bonds to do buy backs. Later Mark Haines put some bond parameters out there and again Bill was more eager not to take up that debate but to talk about stocks being overvalued and potentially hurting the economy if they go in the tank. I think my question of Bill's bond position was badly worded. He just didn't hit the counter points hard because he was trying to bring up different points in limited time. imo.

To: Terry Whitman who wrote (19613)	2/14/1999 6:16:00 PM
From: bill meehan	Read Replies (1) \| Respond to of 86076

TW: I agree with you regarding the bond market. I'd expect any inflation threat would be quickly squelched by the bubble burst on Wall Street. And it wouldn't take a very significant further back-up in Treasuries to lead to asset reallocation on the part of pension funds.

To: Terry Whitman who wrote (19613)	2/14/1999 11:44:00 PM
From: Bonnie Bear	Respond to of 86076

terry: I kinda think people will be happy to buy back their mortgages in the bond market after they have lost some of it in the stock market. The "total bond index funds" lehman index looks like it did when the 30 year treasury was selling at 6% in 94 and 96..the corporates, foreign and high-yield were oversold relative to gov bonds...so the 30 year could back to 6% and not impact the pension bond funds..don't think it will get there before a trillion dollars of dumped stocks absorb it.