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Strategies & Market Trends : Asia Forum
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To: Bosco who wrote (8499)4/20/1999 11:48:00 AM
From: Paul Berliner  Read Replies (1) of 9980
 
Hello Bosco,
Whether the Fed pretends not to have a tightening bias may not matter if things continue to overheat as they are now. 2 reasons why I think that consumer prices will rise sharply in the next round of data:
1. Oil has risen over 50% from its low, which it sat at for quite a while, skewing months of data.
2. More interestingly, I was quite intrigued by March same-store sales figures released by all the mass-merchandisers such as Wal-Mart, Walgreens, K-Mart, Federated Dept. Stores and all the faves as they sported gains ranging from 7% to 15% in some cases. I have a very difficult time believing that Wal Mart's stores are that strong. Maybe 3% to 5% of their reported rise is attributable to the strength of the company's performance, the other 7% - 10% of the increase has to be price hikes.

Wall Street can read between the lines and will proceed with caution upon further releases of data like the above.
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