The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (66533)	7/21/2006 2:36:50 AM
From: Mike Johnston	Read Replies (2) of 110194

Insanity in Japan continues. I could not believe my eyes when i saw this Bloomberg headline: "Japanese Bonds Gain as Central Bank Signals It May Pause on Rate Increases". They want to pause after one pitiful, insignificant hike. BOJ's total lack of credibility and independence, combined with monetization of bonds indicate weak yen in the future and continuation of the carry trade. Exporter demand for yen is not enough to offset BOJ's printing press. At this point, maybe a rate cut back to 0% is a possibility early next year if US housing implodes. bloomberg.com

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