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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (26366)	9/20/1999 12:43:00 PM
From: Les H	Read Replies (2) \| Respond to of 99985

It also appears that the US was just jawboning about intervention. Japan is stuck between a rock and a hard place. They've tried the zero percent interest rates earlier in the decade. They're piling on a lot of debt (80% of GDP growth came from government spending in the big 1st quarter) and the long-term interest rates will continue to increase with the greater debt. Any intervention won't work for long plus the US wants lower dollar rate (even though they won't come out and say it). Salomon Bros also raised its oil price forecast to $22 for rest of year and $ 19 for 2000. That will also help support interest rates at a higher level.