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To: H James Morris who wrote (64494)	6/24/1999 9:15:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

Interesting comment on yen intervention. Rubin said on CNBC that Japan should leave the yen to the markets. Japan acknowledged this today. BTW -- have you seen what Softbank is up to? Unbelievable. Thursday June 24, 8:52 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Not mulling U.S.-Japan forex intervention-Miyazawa TOKYO, June 25 (Reuters) - Japanese Finance Minister Kiichi Miyazawa said on Friday that he is not considering joint intervention by the United States and Japan in the foreign exchange markets. Asked for his views on recent reports that U.S. Treasury Secretary Robert Rubin appeared not to be supportive of Japan's recent currency market intervention, Miyazawa said it had not been confirmed to whom Rubin made those comments or whether they were even made in the first place. Miyazawa added, however, that, ''Our cooperation will not be torn apart.''

To: H James Morris who wrote (64494)	6/24/1999 9:19:00 PM
From: Tradegod	Read Replies (4) \| Respond to of 164684

I would like to propose some serious discussion on some possible scenarios working themselves out over the next few days and their effect on the Net stocks: Here's some thoughts: 1. A .25 rate hike with a tightening bias leaving speculation for more hikes to follow: Outcome? 2. A .50 rate hike appearing as a pre-emptive strike and possiblity of neutral bias the remainder of the year: Outcome? 3. Continued deterioration of the long bond, coupled with high PE stocks dropping prior to Tuesday. This selloff over the last few days appears suspiciouly benign in light of the bond. Are we getting a buildup for a panic selloff? Would it take some other event to trigger it? Affect on the "Quality Nets" if you will. Would a major selloff allow investors to improve the quality of their net holdings. Where do they buy?