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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (18600)	6/13/1998 10:54:00 AM
From: Lee	Read Replies (1) of 50167

Ike,..Re:<<In all this you cannot ignore the Japanese recession news>> Thank you very much for your reply regarding rates in this now global somewhat changed economic environment. Your reply requires a lot of thought, especially to try to resolve serious inflexibility on my part in the face of 'outside the US' influences. I do also expect the long bond to try to touch 5.5% but AG is not going to lower rates in this domestic environment so that means all the yield curves will be merging into a single line. What will happen then? Who will want to buy the long end when the short is less risky? I certainly don't know these answers but will try to be more open minded about the possibilities, if for no other reason than to improve trading prospects. I think we have suspected for a long time that Japan was the key to global economic well-being. Now it's becoming more apparent. But their unwillingness or inability to alter basic structural defects or outmoded concepts may now risk global economic well being seems difficult to conceive. Thanks again for your daily updates. Best regards, Lee

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