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To: Lucretius who wrote (38398)	5/4/1999 6:21:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 86076

well yes..people have been short since october... I don't think we'll get past 6.33%..this is the number that shows up in merck and ge docs as their avg debt, this would run mortgages up to 7.5% or so and shut down the real estate inflation and the construction/durable goods boom.....imho feds would like to shut down real estate inflation but keep commodity prices low so they would like to see a "normal" yield curve. IMHO bond funds will buy treasuries in the 5.7-6% range because they are worried about the implosion of bad debt in the mortgage and junk markets.