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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: jocko who wrote (2476)	6/8/1999 9:39:00 PM
From: jocko	Read Replies (1) \| Respond to of 2635

Just a little tidbit to get things moving : Le Metropole members, Charles Peabody has served commentary at the Hemingway Table entitled, "Large Bank Exposure to Interest Rate Swaps". It is a short piece so I inserted some other recent Peabody commentary at the end of his commentary. "CMB and JPM are the two largest players in the interest rate swap market" "the groups most hurt by the move up in rates" "fuel for the asset bubble is coming from" For the last 6 months Charles Peabody has told Cafe members to expect the following: 1. unintended consequences as a result of Alan Greenspan's interest rate cuts 2. bond yields would have a 6% handle ( almost no one else thought the would ever happen this year ) 3. the bank stocks would correct 40% to 60% from their highs 4. There are LTCM type problems that would surface in late spring Well, the long bond touched 6% today so we congratulate Charles. If what we heard about the hedge funds was on target today, it is very likely his other predictions will become reality too, maybe soon. One more comment about Charles. He still strongly believes this will the year for gold bulls and he also believes the next commodity index to surge will be the CRB as powerful grain markets appear to be right around the corner. Stay tuned. www.lemetropolecafe.com will be the happening Cafe to hang out in this summer. <A HREF="http://www.lemetropolecafe.com/scripts/products.cfm">Le Metropole Cafe</A> All the best, Bill Murphy Le Patron