Incorrect value computed w. flet, logior, progv, values

[Paul F. Dietz]

(defun b2 (b c)
  (declare
   (optimize (compilation-speed 3) (space 1)
             (debug 0) (safety 0) (speed 1)))
  (logior (progv '(*s1*) (list 0) c)
          (flet ((%f (x) (values 0 0)))
            (if t
                b
                (%f c)))))

(defun b2* ()
  (let ((vals '(-1 2)))
    (values (logior (cadr vals) (car vals))
            (apply #'b2 vals))))

(b2*) ==> -1, 2

x86-64, "2.3.2.113-d6dbe3db8"