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Ace Hanlon

05/08/03 5:59 AM

#105603 RE: burgermeister #105580

Thanks for posting that piece on credit spreads.

I am more interested in the relationship between credit spreads and the stock market than credit spreads versus the economy. Lower credit spreads signal greater investor willingness to assume risk -- a bullish omen for stocks. But with credit spreads starting to widen again -- this key indicator may soon favor the bears.