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

To: LastShadow who wrote (21970)	9/21/1999 7:53:00 AM
From: LastShadow	Read Replies (1) \| Respond to of 43080

06:44 ET Overseas Markets : --London-- S&P Dec futures are 6 points below fair value at 1343.5 indicating a 45-50 point negative open for the Dow. In the Far East the Nikkei closed up 357 at 17,932 and the Hang Seng closed down 51 at 13.420. Nikkei gains followed in the wake of a weaker yen based on hopes that the BOJ would expand money supply. Later on, results of the BOJ meeting (released after the Nikkei's close) showed that the BOJ had no interest to monetise debt and would continue to sterilise foreign exchange intervention. consequentially dollar yen plunged from above 107 to 104.40 presently. In light of the BOJ's decision hopes of joint intervention have been dashed and the dollar risks falling further dragging fixed income & equity markets lower. T-bonds had shown modest gains until the announcement but are now down 10/32 to 6.092%. European stocks had been showing modest gains but fell after the announcement with the FTSE down 61 at 5996 and the DAX down 53 at 5298. A stronger than expected German August IFO business survey report undermined euro rate futures & fixed income and lifted the euro.