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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

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Nov 21 4:00 PM EST

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To: HairBall who wrote (24553)	9/2/1999 12:22:00 PM
From: Merritt	Read Replies (1) of 99985

LG, << Does anyone really believe that the 30-Bond rates have been going up because the Fed has been tightening?>> FWIW, IMHO, the bonds are going up because of Japanese repatriation of monies. I first felt this when the Latin America currency fuss occurred last week. There was a "flight to quality" from the Brazil, Equador, and Argentine currencies to the US$. The dollar was strong against all currencies, except the yen. Later comments from Japanese economists about no Japanese intervention to support the dollar until the 107 level, acted to confirm this - at least in my mind.<g>

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