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

To: Lucretius who wrote (5660)	2/1/2000 11:26:00 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 42523

<<I think some hedge funds, as was reported about three weeks ago, are doing an excellent job of moving the Y/D to 110; after rolling out of large positions in the Euro to do so. Not concerned about the Euro. Move the yen down. The Fed has an easier time creating more credit when the dollar appears in good overall fitness. Their strong dollar policy is a means, mainly, to creating more of them. I haven't much else to say on that aspect of the credit markets, Tana. On the repatriation topic, ... The Treasury's published reports ( Bulletins ) on foreign capital flows are nearly useless to investors. We just learned a few days ago what conditions were like in Q3. However, the following statistical category has matched-up well over the past 18 months with the eventual Treasury Bulletins. USG securities held in custody by the Federal Reserve Banks for foreign official and international accounts: ( billions ) Oct98....+18.0 Nov98....+20.0 Dec98.....-2.0 Jan99.....-5.0 Feb99.....-3.0 Mar99......0.0 Apr99.....-8.0 May99.....+6.0 Jun99.....-3.0 Jul99.....+8.0 Aug99.....+4.0 Sep99....+11.0 Oct99....-10.0 Nov99.....+5.0 Dec99....+26.0 Jan00....-24.0 .............. ( Fractions were rounded to nearest integer value. ) >> prudentbear.com >>Have to wait, see what happens after Wednesday's meeting. Certainly one, large, 10-day Repo doesn't constitute a bail-out. I just get a little suspicious when, as soon as a 4-day for $8 billion expires, the Fed conducts a 10-day for $6.5 billion. Less money, but more time in the system; six of these, half-dozen of the other. >> prudentbear.com <<Right at the open. Check the Dow intraday. Over $6 billion in a 10-day. That's a night shot in the arm. Collateral was nearly all mortgage-backed securities. How nice. >> prudentbear.com