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To: John Pitera who wrote (50813)	7/6/1999 11:02:00 PM
From: NickSE	Read Replies (1) \| Respond to of 86076

Hmmmm.... Poor TB auction revives Japan Y2K rate rise fears biz.yahoo.com TOKYO, July 6 (Reuters) - Concerns over a rise in Japanese money market rates ahead of the millennium were revived on Tuesday after the poor results from an auction of the first Treasury bills (TBs) maturing early January, traders said. Japanese banks, usually active bidders in TBs, were reluctant to buy the 227th six-month TBs due January 12 as they preferred to have ample cash during the next six months in case of a credit crunch from the millennium computer bug, in which computers may malfunction when the year changes to 2000. Foreign banks and several domestic investors were also shying away from the 227th TBs because of the Y2K problem, they said. ''There is a speculation that interest rates would rise further as the year-end approaches. From that point of view, now is not a good time to buy (TBs),'' said a foreign bank dealer. [....]