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To: J. P. who wrote (27184)	3/23/1999 4:34:00 PM
From: Defrocked	Read Replies (3) \| Respond to of 86076

Equity Bears need to watch out for higher bond prices as lower yields may act to resuscitate, however temporarily, the equity market. It appeared to me throughout the day that the $8 billion ATT financing kept a lid on any safety bid as equities fell. One one hand, that may mean bond traders think stocks have further to fall before damaging the real economy. On the other hand, as the ATT issue leaves dealer inventory bond futures may get bid up as hedges are lifted. Hopefully any potential bounce is limited and bears can use that opportunity to reload. FWIW. There is actually a "third hand" upon review. If the ATT issue meets resistance then higher bond yields send this equity market quickly lower. Just my 2.4 yen worth.<g>