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Technology Stocks : Ascend Communications (ASND)

ASND 210.03

-1.2%

10:13 AM EST

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To: Gary Korn who wrote (27502)	12/11/1997 7:13:00 AM
From: Glenn D. Rudolph	Read Replies (1) of 61433

EYE ON U.S. FINANCIAL MARKETS & OVERNIGHT SNAPSHOT Futures World News - December 11, 1997 06:17 FINANCIAL FED CURRENCY STOCK ECONOMY V%FWN P%FWN Washington-Dec. 11-FWN--OVERNIGHT DEVELOPMENTS AND today's events key to U.S. financial markets: AT THE HEART OF THE MARKETS U.S. TREASURIES: The long bond is a touch firmer on expectations November PPI and retail sales will show the economy growing at a moderate clip with few signs of inflation. World stock markets felt another sting from Asia, where currencies and equities plunged. That could result in flight-to-safety buying of Treasuries with the New York open. U.S. DOLLAR: The dollar is down against the Deutsche mark, which is garnering safe-haven buying after another sharp decline in Asian markets. The dollar is a shade weaker on the Japanese yen as traders fear BOJ intervention on behalf of the yen. OVERNIGHT DEVELOPMENTS * SOUTH KOREAN Kopsi down 5.6%; Hang Seng off 6.8% as Korea's woes continue and amid worries a plan to stabilize the economy will not surface * KOREAN won plunges 10% limit against dollar to new record low 1,719.8; Standard & Poor's downgrades foreign currency debt of some entities * JAPAN's LDP reportedly agrees on 10 trillion yen for stabilizing banks but no word whether a bond issue will be floated * JAPAN's Komura: will take necessary action to prevent undesirable decline in Japanese yen * MOF qtrly survey: JAPANESE companies see economic conditions becoming increasingly severe * SWEDISH Riksbank lifts repo rate to 4.35% from 4.10% * GERMANY to raise VAT to 16% from 15% on April 1 FOREIGN MARKET QUOTES (As of 5:40 a.m. CST) ------------------- NIKKEI closed at 16,050.15 DN 427.97 $/Y 129.18 DAX trading at 4038.38, DN 78.89 $/DM 1.7762 FTSE trading at 5058.2, DN 72.5 BP/$ 1.6527 U.S. 30-yr bond 100 30/32, UP 6/32 London gold $284.25 U.S. 30-yr bond yield 6.05% Brent crude Jan $17.35 ------------------- End of Part 1

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