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To: TEMFASSBAL who wrote (6986)	3/3/1999 11:08:00 AM
From: William Epstein	Respond to of 7841

TEMFASSBSAL; I agree. The bond market has accomplished its Treasury refunding at an interest rate that gives the dealers some play room (profits). If anything, it is more rigged than the stock market. I know (not suspect) that it is a very exclusive, private club of dealers and underwriters in NY. For example: John Mitchell was the biggest bond salesman in NY. After he got out of jail he went right back into the bond market. I met him through a financial printer. No stigma attached. That was just the way the cookie crumbled. The point is that they have accomplished their short term goal and in order to make profits they must, must raise the price of bonds. Expect to see a rise in the price of bonds very soon. PHOTOMAN