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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Activatecard who wrote (58670)	5/6/1999 10:08:00 AM
From: Knighty Tin	Respond to of 132070

Steve, I like July, and 55s are o.k. I own June 60s, which I like better. The real fact is, interest rates are already causing problems and they can be seen in the lack of earnings at cos. that are borrowing money, which are most who CAN borrow money. I wouldn't worry much about the T-Bond rates, the ones they show on tv every half an hour. That is a misdirect. The real game is being played out in this huge Fannie Mae issue, the huge AT&T issue, the muni market and the rest of the corporate and mortgage hard tundra. And it is rough there. Rates are already too high for the rate of eps growth to be sustained by borrowing money and buying back shares. So, it should hit any time now.