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

To: Alias Shrugged who wrote (59158)	5/12/1999 5:16:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Mike, It is mostly an absence of buyers. Japan has pulled back, and that was the biggest single buyer of our Treasury bonds. And individuals and bond funds are the biggest buyers of junks, mortgages and munis, and folks have been dumping them because you can make as much in equities in an hour as you can in bonds all danged year long. <g> But the fact that the sellers are crawling out of the woodwork to nail down these low rates also hurts the bombs. The TBond market closes at 3 New York, 2 American time. <g> The Dow was up 9 points and then fell back again. That is good news. Not everyone is a total sucker.