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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: sammaster who wrote (4810)	1/28/2000 11:57:00 AM
From: pater tenebrarum	Respond to of 42523

samir, the correlation between U.S. and European markets is very high. btw, most European indices have turned negative now...they follow WS's lead, always. however, i have noticed that if Europe and WS begin to diverge during downturns, it often means that the markets will soon turn up again. funny enough, WS is now weak in spite of the continuing weakness in the Euro...that's somewhat surprising, as the Euro and WS have been almost perfectly negatively correlated up until now. btw, you are right that growth in the Euro zone (as well as Asia) will pressure the stock market in the end, as the competition for capital heats up worldwide. the U.K. yield curve is completely inverted by now, and i expect the U.S. to follow (one has to consider though that the extreme inversion of the U.K. curve is partly due to the prospect of accession to the Euro). it will be interesting to see if easy Al can print his way out of the growing pressures...