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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Paul Berliner who wrote (1917)	7/2/1999 9:57:00 AM
From: Henry Volquardsen	Respond to of 3536

I saw that on CNBC this morning. They trotted the same argument about low inflation. The problem they continue to have is they seem to believe that real rates of return is some static element. My point has been for awhile that the bond is not responding to inflation data. The bond is, I believe, responding to good old fashioned supply and demand. And there are lots of factors effecting that. At the top of my list is the strong equity markets in the US and Europe and recovering Asian markets are attracting investment flows and making less money available at lower bond rates. Real rates of return have to back up to remain competitive with global equity return expectations (whether those returns are realistic is a separate question<g>).

To: Paul Berliner who wrote (1917)	7/2/1999 10:13:00 AM
From: Daniel Chisholm	Respond to of 3536

I don't usually watch CNBC, But I'll bet that you know it when you see it? but I was on line getting a bagel & lox and they had a monitor (sign of the times, 'eh?). tick, tick, tick.... Anyway, I embarrassed myself while waiting on line as I laughed loudly when Kudlow said that the Euro is becoming a 3rd world currency. Other patrons were not as amused. ;-) Perhaps you misunderstood. Might they they have said that the Euro is becoming a "Third World" currency, and your derision offended a deli full of Euro bears? - Daniel