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Pastimes : Ask Mohan about the Market
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To: Zeev Hed who wrote (8361)11/17/1997 8:48:00 PM
From: Snowshoe  Read Replies (1) of 18056
 
>>the last news item on the subject did not say anything about the pension getting their money into the banks<<

I know, but Sankar has suggested the pension funds will sell their U.S. bonds and buy Japanese bank preferred stock. I was trying to give a reason why they might not want to do this. As far as I know, there is no official announcement that it will happen. Here is a quote from Sankar's post #8340:

"The Jap market believed in the latest Jap Govt move to have pension plans sell their US Treas holdings to buy Private Jap Bank preferred stock because this move is the only viable alternative left to rescue the Jap banking system. This is serious and the govt has to do it and so the market believed in this move, bid up the bank stocks which squeezed shorts, etc."

Obviously something has to happen, but I'm still not sure what it will be. The Japanese are very inclined to just muddle along.
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