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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (62306)	6/14/1999 2:48:00 PM
From: Freedom Fighter	Respond to of 132070

Chris, >>It appears that BOJ supports your prediction for lower interest rates. At least that is how I read it. They sold yen and bought dollars presumably in for the form of US treasuries.<< I suspect that the U.S. and Japan believe the intervention was in both of our interests. We needed a little help in our bond market and they believe that if the Yen is too strong it will hurt their fragile economy. Actions always speak louder than words.

To: valueminded who wrote (62306)	6/14/1999 11:26:00 PM
From: Knighty Tin	Respond to of 132070

Chris, Either Japan has had an early look at the numbers, which I suspect, or they have been told to support the dollar or die. If the yen gets strong, no exports and goodbye phony recovery. If the yen stays weak, so long decent returns on Japanese markets and goodbye phony recovery. Uh, goodbye phony recovery. <g> It only makes sense to export capital when the country importing your goods is threatening you with sanctions if you don't.