William Sullivan Last Quotations

There were questions developing in the market late last week regarding the tenor of Greenspan's speech ... (and) it seems as if the potential that there won't be a rate cut is weighing negatively on the Treasury market.

The Fed has more or less backed away from this pre-emptive approach that they talked so much about in recent months. In fact, the Senate could say that Alan Greenspan & Co. caved in to the political criticism on Capitol Hill that we saw emanate over the last few weeks,

January could prove to be a very difficult month for bonds, just as December was. Long-term interest rates rose anywhere from 35 to 40 basis points last month, and we're obviously starting January on a very weak -- if not suspect -- note.

indicating this may be the last change in monetary policy for a while.