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Normally if short rates come down, long rates go up. If that is not the case,
the real problem will be deflation of hard assets and inflation of services will
continue. Check your medical and prescription drug prices and health insurance,
auto and homeowners etc. Ira.
RAY RAFFURTY wrote:
> -----Original Message-----
> From: steven poser <swp@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Wednesday, October 14, 1998 9:24 PM
> Subject: Re: [Doom and Gloom Dow Industrials Forecast]
>
> >TQuinn211@xxxxxxx wrote:
> >This makes no sense. If the Fed was that worried about the markets
> >(which I think they should be) they would have at least cut the discount
> >rate on 29-Feb. Interventions do not work unless they are done big time.
> >Witness the sad history of central bank intervention in the forex
> >market. All it does is clobber the shorts and give those who were not
> >short an opportunity to short at a better level. If the Fed wants to
> >prop up the market, all they need to do is say that they are looking
> >into LEGAL ways of buying stocks. That'd scare the heck out of anybody
> >shorting the market.
> >
> >Caroline Baum just wrote a great piece for Bloomberg News talking about
> >similarly idiotic conspiracy theories that always crop up in the forex
> >market and bond pits, the latest of which called for a rate cut over the
> >weekend following an emergency meeting last week of the Fed.
> >
> >Watch out for the little green men. If they start buying spooz,
> >Andromeda's the limit!
>
> I guess the Fed members wanted to play golf this weekend and got the
> rate cut out of the way early {;-) Seriously, if someone is short bond
> futures, how bad will they be hurt by this move? Does anybody think the
> timing was deliberate, similar to the way Ruben nailed currency speculators
> a few months ago?
>
> Good luck and good trading,
> Ray Raffurty
>
> P.S. What's the exchange rate on the Andromidian {IYB)YV%R&^ to US$
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