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To: PartyTime who wrote (43611)4/30/1999 2:30:00 PM
From: John Doyle  Read Replies (1) | Respond to of 95453
 
If bond futures close where they are at now- DOWN!



To: PartyTime who wrote (43611)4/30/1999 3:17:00 PM
From: Crimson Ghost  Respond to of 95453
 
Today's action shows that stocks cannot keep going up in the face of soaring bond yields. Yields on the long bond are again pushing 5.7%. But the last time yields were this high -- a few months ago -- the Dow was below 10,000.

I still do not think the Fed will tighten until summer at the earliest. But the markets have a habit of discounting these things well in advance.