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To: Lee who wrote (121430)	4/30/1999 2:53:00 PM
From: JRI	Read Replies (1) \| Respond to of 176387

Yes, Lee....you have a point...but that was not Larry's point! (And that is my point!)... Bond reaction today ridiculous...U.S. economy is clearly slowing...Europe still growing slower..starting a U-bottom (perhaps), Japan is going to slow, and most Latin America countries are growing slower this year. Oonly the little tigers are sure to grow the next couple quarters... Irrational fear...Real rates still high...