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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey Lee who wrote (21754)	9/17/1999 7:18:00 AM
From: LastShadow	Respond to of 43080

06:54 ET Overseas Markets : --London-- S&P Dec futures are about 8 points above fair value at 1341.3 indicating a 65-70 point positive open for the Dow. In the Far East the Nikkei closed up 50 at 17,342 and the Hang Seng closed up 54 at 13.484. Gains followed in the wake of heightened speculation that the Fed and BOJ would sell yen jointly. Several Japanese news sources indicated the Fed might agree in return for unsterilised intervention whilst finance minister Miyazawa's tone is now much more urgent. The dollar has bounced from the 103 low to 107.30 so far and this is providing a lift to T-Bonds which rose 11/32's to 6.056%. US rate hike fears appear to have receded with some pointing to a Washington Post article by John Berry. In Europe all stock indexes are modestly higher with the FTSE 100 up 27 at 6041 and the DAX up 49 at 5354. The ECB's Sep monthly report provided mild relief as it said inflation would stay below 2% next year. Italian July industrial output rose a disappointing adjusted 0.5% m/m. The euro is steady versus the dollar, much higher versus the yen. European bond yields are down in line with treasuries.