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To: Joseph G. who wrote (10019)	10/31/1998 11:11:00 AM
From: geewiz	Read Replies (1) of 86076

Financial Times October 29/98 Copied for private use only; Japanese Investors Switch To European Bond Markets The Japanese are finally boarding Europe's single currency train. Having virtually ignored European economic and monetary union in recent years, Japanese investors have switched in the last three months to European government bonds from US Treasury bonds. Japan's ministry of finance says that, as a proportion of all Japanese foreign bond purchases, US Treasury bonds have fallen from 82% in Agust 1997 (on 6 month moving average) to just 45% in August 1998. On the latest single monthly data available, the proportion fell to below 30%, with European government bondmarkets the main beneficiaries. "What we are seeing is a clear long-tern reweighting of Japanese portfolio investments from the dollar into the eurozone," said Avinash Persand, head of currency tranding at JPM. Copywrite 10/29/98 Financial TIMES Sounds like we may see a big change in the yeild curve soon. best, art

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