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Politics : Ask Michael Burke
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To: dppl who wrote (9103)1/7/1997 6:00:00 PM
From: Doc   of 132070
 
Hello Dppl...PLS review the following post for HOT news.

WASHINGTON, Jan 7 (Reuter) - An influential U.S. economist said on Tuesday that she saw U.S. interest rates rising in the months ahead and warned of the possibility of a steep dollar drop against the yen. Gail Fosler, chief economist at the New York-based Conference Board, told the National Economists Club that she expects the yield on the 30-year Treasury bond to rise to about 7.2 percent in the first quarter and to around 7.5 percent by the middle of the year.The yield on the long bond is currently around 6.8 percent.Fosler argued that both U.S. economic growth and inflation were on the rise, putting pressure on the Federal Reserve to raise short-term interest rates and pushing up bond yields. The United States has been a "magnet" for foreign capital over the last year, Fosler said, and that has helped hold down U.S. interest rates. But she questioned how long that could last, especially given her view that the U.S. current account deficit is set to rise this year to an annual rate of about $200 billion. Fosler argued that the dollar is significantly overvalued against the yen on the order of about 15 percent.

I saw this after my original post to u; Any comments? Doc :-)

I'm bearish short-term US equities. Bullish on selected ADRs. I've been predicting a rise in interest rates for nearly three wks here in techstocks...I guess institutions aren't listening..LOL....probably will eventually wish they had. Can everyone get out the same door at one time?; answer: not if 1987 was evidence.

Why does it say ask Michael Burke? Is that your alias?
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