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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (34053)	10/16/1998 12:01:00 PM
From: Tommaso	Read Replies (2) of 132070

Looking at the outflows from mutual funds (which can, of course, reverse at any time), I am inclined to see yesterday and today as short-covering and short-term speculation on a temporary rally. Indeed (though I haven't looked to check this out) the dollar should drop in such a way as to encourage foreign money to move elsewhere. Gold might finally get a nudge. Only two years ago it was nearly at $400. What would really trash the markets would be an agreement by oil producers to totally rescind the 10% output increase they authorized a couple of years ago. $25 a barrel crude (or higher) would pull a lot of money out of the United States, and fast.

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