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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 689.100.0%Jan 23 4:00 PM EST
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To: HairBall who wrote ()8/20/1999 8:12:00 AM
From: LaVerne E. Olney  Read Replies (2) of 99985
 
Rumored Godzilla Japanese Bank Merger Bad News For The Dollar

The wires were buzzing with the rumor that IBJ, DKB and Fuji banks were going to merge. The merger makes good business sense provided that redundant staff and branches be trimmed. If so, then the profit outlook for this new banking Godzilla would greatly improve. It is unlikely that a merger this big could occur in Japan without the blessing, or perhaps, urging, by the Japanese government. This could be a signal to the rest of Corporate Japan to merge and purge. If this merger is the start of the restructuring of Japan Inc., then corporate profitability in the Land of the Rising Sun is going to be looking up. That means that global investors will re-allocate some of their capital away from the U.S. and to Japan. This would put downward pressure on the dollar and upward pressure on U.S. inflation Good news for Japan, but bad news for U.S. financial markets.

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