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To: GROUND ZERO™ who wrote (637)	5/13/2000 9:12:00 AM
From: Joan Osland Graffius	Respond to of 797

GZ, On a fundamental bases the USD loosing steam yesterday is an indication that the recent selling in the markets was our foreign friends as the currencies are starting to go back home. My experience is this happens 5 or so days after trading. It looks like the Japanese were sellers based on the Yen. It also could be some international players using Swiss banks. If human behavior remains intact investors will start loosing confidence in the US market recovering and along with currency gyrations, we could see more selling from foreigners. When J6P throws in the towel we will have some companies trading at fair value, unless the economy gets trashed and then we will not have any idea what fair value is. <ggg> Interesting times ahead. In my opinion, the environment should continue to be good for credit spreads. BWDIK Joan