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

To: DJessen33 who wrote (60915)	5/27/1999 5:29:00 PM
From: Knighty Tin	Respond to of 132070

DJ, I think the bond market is faltering out of fear that the do-nothing positive Fed will do something positive. But I see deflation all around me. Even the good numbers are starting to fade, as the govt. announced today that the economy wasn't really as good as they'd previously reported. Asia's recovery died with the price of DRAM. Oil is inching down as folks have had to use less in industries that have no pricing power. The big scamarama has been the ballyhooed recovery in Brazil, which never happened except among PR shils. So, I see overcapacity everywhere. I see lower credits and more need for debt to survive, so that is bad for corporates and mortgages. I think it should eventually prove positive for Treasuries.