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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 242.61-1.5%3:59 PM EST
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To: Bill Harmond who wrote (87169)12/12/1999 3:54:00 PM
From: GST  Read Replies (1) of 164684
 
William: The Japanese have been selling dollars -- so the question is this "Did the Europeans buy more dollars than the Japanese sold?" I find this highly improbable. The weakness of the Euro might be more important for some purposes -- but in this case we are talking about ownership of treasuries, and I think on that score a massive drawdown by the Japanese has almost certainly NOT been balanced by a massive surge in European purchases. Hence the need for the Fed to make up the difference to hold down interest rates.
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