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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

4:00 PM EST

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To: IngotWeTrust who wrote (7944)	2/27/1998 9:52:00 PM
From: PaulM	Read Replies (1) of 116764

US Treasuries: "There were huge sellers in the market place this morning." biz.yahoo.com Long bond hit 6% briefly for the first time in a while. Meanwhile, Rubin says: U.S. Rates set to Fall bloomberg.com Here is a theory for you: the Japanese are selling treasuries substantially and will sell a bunch more this month. Tokyo openly talked about an 18000 target for the Nikkei and today we're in the 16000's. Japan co's need to make their capital requirements come March 31 some way. And selling treasuries will be part of the solution. That's why Rubin is promoting the bond. That's why Washington is brow beating Tokyo about fiscal stimulation. That's why yet another envoy visits Asia next week. That's in part why M-3 grew at an 11.4% annual rate (M-2 at 7.1%) for the three months leading up to Jan (by the way, interest rates should be low in light of these extremely expansionary policies). March will be interesting.

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