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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (9578)	10/30/1999 8:55:00 AM
From: Logain Ablar	Respond to of 15132

Justa: ML has insulted the intelligence of its customers IMO If you look at the average ML customer and their knowledge of investing ML actually knows the knowledge level of its customers. Not only ML but most investors still just follow broker recommendations. (SI participants are still the exception not the rule and I'm not saying they on average out perform the average broker either) Remember the ML customer has to work 10 hrs. a day, travel to / from work and then spend time with the family. Not much time for research (which is why he should invest in the indexes vs. ML funds.) MY take on AG is he'll still raise in Nov. but will then be out till April to see if the soft landing materializes. Have a good weekend Tim

To: Justa Werkenstiff who wrote (9578)	10/31/1999 7:12:00 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

ECB's Duisenberg Sees 'Inclination' for Higher Rates Frankfurt, Oct. 31 (Bloomberg) -- The European Central Bank's policymakers are more inclined to raise interest rate as money supply growth quickens, ECB President Wim Duisenberg said, bolstering expectations of a rate increase this week. ''Our inclination for higher interest rates has certainly risen somewhat'' since July, Duisenberg told business daily Handelsblatt in Monday's edition. ''I don't know what the ECB council will decide on Nov. 4, but I can imagine.'' Duisenberg's comments underpin expectations the ECB, which sets rates for the 11 countries sharing the euro, will lift borrowing costs for the first time in its ten-month existence this Thursday. While inflation in the region remains subdued, economic growth is picking up and the ECB's benchmark interest rate is at an all-time low of 2.5 percent. At its meeting in early October ECB officials were unanimous that the next rate move would be an increase, though weren't sure whether to lift borrowing costs later this year or early next year, Duisenberg said. The bank wanted to wait for ''more evidence that price stability is in danger in the medium-term,'' he told Handelsblatt. M3 money supply growth, the ECB's main guide to future inflation, rose to an annual rate of 6.1 percent in September from 5.7 percent in August and above the ECB's target of 4.5 percent. That growth added to talk the central bank could raise its benchmark 2.5 percent refinancing rate as soon as this week. ''The latest development in money supply without doubt confirms the trend, even if we don't base our judgment solely on this,'' Duisenberg said. A survey of 55 economists, traders and investors conducted after the release of the money supply figures found that all but six forecast a rate increase on Nov. 4. An increase would be the first for the 10-month old ECB and the first in benchmark European borrowing costs since the Bundesbank raised rates Oct. 9, 1997, prompting other central banks to follow. ''If we make a rate decision, then we've influenced the markets accordingly and the more so, the closer the decision approaches,'' Duisenberg said. His comments come after the ECB's chief economist Otmar Issing told reporters on Friday the outlook for faster economic growth in the euro zone has improved, and indicated that the reasons for the bank's rate cut earlier this year no longer exist. The reasons for that rate reduction ''have now disappeared,'' Issing said. Oct/31/1999 16:05

To: Justa Werkenstiff who wrote (9578)	10/31/1999 7:18:00 PM
From: Justa Werkenstiff	Respond to of 15132

Yen Near 1-Mo High vs Dollar, Euro on Optimism for Recovery Tokyo, Nov. 1 (Bloomberg) - The yen was little changed near a one-month high against the dollar and the euro on expectations investors will channel more funds into Japanese stocks, boosting demand for yen to purchase shares. A series of economic indicators released in Japan Friday, including an unexpected decline in September's jobless rate, pointed to continued recovery in the nation's economy. Another round of economic-priming measures the government will announce soon also made investors optimistic about the country's recovery. ''Foreigners particularly believe Japan's gross domestic products'' for the July-September period will expand, and will snap up the yen, said Tetsu Aikawa, a foreign exchange manager at Sanwa Bank Ltd., who expects the yen to rise to near 103.20 to the dollar this week. The yen traded at 104.13, little changed from 104.10 in late New York trading Friday, when it touched 103.96. That's near the 103.71 it reached Wednesday, its strongest since Sept. 23. The euro bought 110.11 yen, little changed from 109.89 yen in New York, where it reached a one-month low of near 109 yen. While Japan's broad Topix stock index closed at its highest in three years, and the benchmark Nikkei 225 stock average posted its biggest percentage gain since May 6 on Friday, a stronger yen could hinder the recovery by making Japanese exports less competitive abroad, undermining the yen's gains. Aikawa said he doesn't expect the yen to keep rising in Tokyo trading because the central bank may soon sell yen. ''The government won't likely let the yen surge above'' 103.20, its 44- month high touched Sept. 15. Haruhiko Kuroda, Japan's currency chief, repeatedly said last week the statement released Sept. 25 by the Group of Seven industrialized nations is still in effect and Japan will sell yen if the currency accelerates its strength. G-7 officials said in the statement they shared Japan's concern over the strong yen. In other trading, the euro bought $1.0556, compared with $1.0549 in late New York trading Friday. The dollar traded at 1.5208 Swiss francs, little changed from 1.5209 francs in New York. The British pound was at $1.6444, little changed from $1.6448 in New York. Oct/31/1999 19:02