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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: John Hunt who wrote (24916)	12/27/1998 6:19:00 AM
From: John Hunt	Read Replies (1) of 116954

Japanese Economy Is In The Dumps nypostonline.com << But a seismic shock went through the speculative and investing world last week. On Tuesday the Japanese bond market crashed in a huge way when the Trust Fund Bureau of the Ministry of Finance announced it would no longer be buying government bonds in the open market. Given that Japanese agencies have been buying between 60 and 80 percent of all government bonds for the last couple of years, that is not good news. Especially when you consider that Japan's government is going to run a deficit of about 10 percent of the country's total economy next year. That is four times larger than what the devastated Russian government will incur. Not surprisingly, then, the MOF announcement led to a bounce in the interest rate on the standard Japan Government Bond, from around 1.5 percent to 1.9 percent. >>

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