Re: longbond follow up hummel/henwood

["John B. O'Donnell" <jackodonnell@xxxxxxxx>]

Its only a guess, but consider the activities of CB's and other
active traders who deal in huge volumes of bonds, notes, etc. and
may hold these items for only minutes let alone hours or days.
Averages do have a tendency to decieve.

Where's Mosler when you need him?

Gregoire de Nowell (ci-devant) wrote:
>
> 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

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			-- jbod
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