longbond follow up hummel/henwood

["Gregoire de Nowell (ci-devant)" <GN842@xxxxxxxxxxxxxxxxx>]

Hummel has a ponot Doug.  At what POINT of the 30 year
bond's life are we talking about?  in it's last year it
might trade like a short term security.  The "hyperacrtivity"
of the long bonds in their 25th - 30th year (for example)
might create a "short average holding period" for the
entire issue of long bonds.  But the lonngest portion of
the long bonds might be circulating much less actively.

I would like to know more about this because it seems to
me that the issue is germane to bonds as circulating
instruments of exchange and hence at least in part to
the effective "real" money supply.  Maybe you could
pursue the matter a bit more with your wall street
sources?

Always willing to pass research off to someone else,

Greg