January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: RockyBalboa who wrote (573)	6/19/2003 11:37:36 AM
From: Londo	Read Replies (1) of 666

The EUR got pounded over the past three days, this is probably more of a 'dead cat bounce' than anything.. If Greenspan cuts a quarter point, I suspect EUR will be sold off heavily again (just in that day) as the rate differential is the public perception why the EUR is supposed to be strong. Of course, we both know otherwise (you mentioned one of them with the printing press), but the US still has that huge current deficit to work with... best way to fight it? Devaluation. The only reason why the bonds are as high as they are (and probably will head higher throughout this year) is that Greenspan is targetting those long-term rates. And when the Fed buys back bonds, you don't ask questions, you just get out of the way.

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