I tried it on cygwin on my Win2k box with expected results.
Then I tried it on a solaris box and it broke. Very strange...
Hugh
$ pwd
/home/hnichole
hnichole@HNICHOLE-2000 ~
$ mkdir junkwaffle
hnichole@HNICHOLE-2000 ~
$ cd junkwaffle
hnichole@HNICHOLE-2000 ~/junkwaffle
$ touch *.tst
touch: creating `*.tst': No such file or directory
hnichole@HNICHOLE-2000 ~/junkwaffle
$ bash --version
GNU bash, version 2.05a.0(3)-release (i686-pc-cygwin)
Copyright 2001 Free Software Foundation, Inc.
hnichole@HNICHOLE-2000 ~/junkwaffle
$
bash-2.05$ pwd
/users/hnichole
bash-2.05$ mkdir junkwaffle
bash-2.05$ cd junkwaffle
bash-2.05$ touch *.tst
bash-2.05$ ls -al
total 48
-rw-rw-r-- 1 hnichole eng 0 Apr 26 04:52 *.tst
drwxrwxr-x 2 hnichole eng 4096 Apr 26 04:52 .
drwxrwxrwx 18 hnichole eng 20480 Apr 26 04:52 ..
bash-2.05$ bash --version
GNU bash, version 2.05.0(2)-release (sparc-sun-solaris2.5.1)
Copyright 2000 Free Software Foundation, Inc.