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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: N who wrote (28823)	9/16/1999 6:44:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think it is all in the hand of chartists who in front of screens see 95 Yen against $ a possibility if 100 is taken out, market believes in a further rate hike inspite of benign CPI, so narrow spreads although a good sign should see some kind of stability in $/Yen rates, as the traders bid Yen higher the weaker $ invites attack on US assets, the genral feling that we are seeing a flight from US assets is more prevalent in the market than expected bunch of US credits weighing on the market..The market believes in my opinion errorneously that capital is being tranferred to Japan but Japnese nascent recovery depends on a weaker Yen not a stronger one, so Nikkei the basrometer of Japnese assets falls and as Yen strengthens this fall will continue, so at certain point in time as future numbers confirm US robust non-inflationary economy, money deserting US assets anticipating that new dawn is in ASEA will flow back in, I don't think that global investing is a zero sum game it is wrong to assume that we presently are made to believe that Japan gain is US loss, for me it is a win win game, Japan would rise so would US continue on the track of non-inflationary modest recovery..