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To: Logain Ablar who wrote (31413)	5/11/2000 1:54:00 PM
From: mattie	Respond to of 50167

Tim, Yes a wet month - but also a soggy stock market which I think also played a part. Just what the Fed wants.

To: Logain Ablar who wrote (31413)	5/11/2000 8:37:00 PM
From: IQBAL LATIF	Respond to of 50167

Tim.. OK We had a very wet April, may be some dampening of spending due to wet season, perhaps also a slight impact from long term 'Comp' correction, as lower valuations in April may have impacted desires, the 3rd April free fall and 17th repeat did take out lot of sails from compulsive spenders. Asset deflation like the one we had it in April has contributed far more than ''wetter climate'' in East although undoubtedly this must have contributed a lot. You have another month of this extended correction and within two months Fed would be looking to provide liquidity like they did in case of ASEAN asset deflation, I do see a co-relation in 'IIX DOT SOX PSE index and prosperity attributes like spending. I will hesitate to make that same comment about DJIA and BKX or DJT the slower moving more standard indexes, all corrections in former does result in slow down whereas former has less of an impact due to lack of the former to create paper wealth. This paper wealth evaporation may be the culprit too.. Now going to sleep ,, will look at other messages in the morning.. P.S.. I will talk to you at the weekend ..