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To: Patrick E.McDaniel who wrote (104596)2/24/1999 4:19:00 PM
From: SecularBull  Respond to of 176387
 
Long bond went back above 5.5%.



To: Patrick E.McDaniel who wrote (104596)2/24/1999 5:23:00 PM
From: Frank Ellis Morris  Read Replies (1) | Respond to of 176387
 
>>CNBC is reporting Alan Greenspan didn't comfort the bond or stock markets and therefore
concerns exist over future interest rate trends.<<

Patrick this is the reason why the market made a sharp U-turn today. Greenspan had threatened to take back one of the interest rate cuts of last year. This is a more powerful influence then saying the market suffers from irrational exhuberence. Rising interest rates and the fear of what and when Allan may do is something that all of us have to be concerned about. You can see the market get trashed in a hurry over this. I do not think that anything is more worrisome now than the threat of tightening credit

Frank