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To: John Pitera who wrote (38830)	5/5/1999 10:00:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 86076

my projection is 7% for this leg... the question is how fast we get there.. I can make a case for a crash, but it could occur slower.

To: John Pitera who wrote (38830)	5/5/1999 10:14:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 86076

there's been a huge spread between corporates and treasuries...it just looks like the spread is getting smaller by raising the yield on long treasuries and lowering long corporates...and mortgage rates are going up. The feds really fear a real estate bubble and raising the rate cools it off. but I can't see them raising mortgages above 8% (7% on treasuries) because nobody will buy houses. So...they need to get mortgages up, raise short-term rates but keep from popping the corp bonds. yup, 6.33 is the number for GE and MRK. I didn't look at IBM and T they must tank below 6 because they were swilling at the bond pig trough recently. BTW DUC went screaming UP today it holds noncallable long corporates, the utility junk went up, but the bond index (a lot of treasuries and mortgages) went down. we're probably in the sweet spot for bonds, when the internuts crack all that money will help sop up the bond swill that T is putting out.