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Non-Tech : Elaine Garzarelli

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To: Andy Nemo who wrote (100)12/12/1996 9:59:00 AM
From: DWB   of 292
 
I think you're giving the Japanese market's influence way too much credit... only 18.6% of US Government Debt is foreign owned, and only a percentage of that is by the Japanese....

Additionally, for corporate debt, Japanese interests bought 4.4 billion in bonds for the first 6 months of '96, but at the same time, Great Britain alone bought 28 billion.

You compared the situation to '94, and at that point, when the Japanese did stop buying bonds, interest rates dropped like a rock. I'm not saying there is no correlation between Japanese buying and it's affect on the market, but let's not make a mountain out of a mole hill.

My 2 cents.

Dan
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