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Post# of 704019
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Ace Hanlon

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Ace Hanlon

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Re: dave_s post# 120810

Wednesday, 06/18/2003 1:21:52 PM

Wednesday, June 18, 2003 1:21:52 PM

Post# of 704019
The market has scrapped the idea of a 50 point Fed cut next week; now expects just 25 bp. That has hit treasuries, boosted the buck ,and hurt gold.

But I am sticking with junk a bit longer. Yesterday's action shows that junk can move up even while treasuries are getting hit. Most of the junk move is indeed behind us but I can see another 1-2% in the junk funds unless treasuries really take it on the chin. And frankly I hate to give up those nice yields unless it looks like the junk market will get hit hard

“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi

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