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Politics : Idea Of The Day

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To: Jerry Olson who wrote (19974)	9/4/1998 10:41:00 PM
From: Peter Mui	Read Replies (2) of 50167

if AG is talking about "deflation", not "inflation" anymore, lookout on Tues...we could see a gigantic relief rally of say, oh 300+++ points or so.... Certainly appreciate some positive sentiment amidst all the gloom and doom from the bears. However, why would the market react positively to something that they've known about and discounted for months (commodity price declines) just because Greenspan mentions it in a speech? Greenspan has already mentioned in an earlier speech this year that there was no inflation, even though labor demand remained strong and wage pressures were likely. The speech just given was neither boon for bulls or bears. If anything, it cautioned against rising asset values based on nothing but sentiment.

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