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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (56304)	7/10/2000 1:08:47 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 99985

HI TA .. This has always been amusing to me. "Sure there is an inverted yeild curve .. but it doesn't count because there is a reason for it .." There has always been a reason for any inverted yeild curve: The market perceives that interest rates will be lower in the future than they are now. If that perception did not exist it would not matter what the government did.

To: Tunica Albuginea who wrote (56304)	7/10/2000 1:36:09 AM
From: UnBelievable	Read Replies (1) \| Respond to of 99985

Dlr Down Vs Yen On Doubts Over US Soft Landing (Copyright © 2000 Dow Jones & Company, Inc.) By Takeshi Takeuchi TOKYO (Dow Jones)--The dollar shaved off its weekend gains against the yen Monday in Asia, as currency players sold the dollar on doubts that the U.S. economy will achieve a soft landing. The euro remained mostly flat against the dollar because of dearth of new trading factors. Traders had second thoughts about the U.S. economy successfully avoiding a crash-landing, hopes for which were raised Friday by weaker-than-expected June U.S. job figures, dealers said. Japanese exporters and some overseas short-term investors thought the scenario a bit too optimistic, and sold the dollar for yen to unwind dollar-long positions they accumulated Friday, dealers noted. "The weak job data was a necessary condition for a U.S. soft-landing, but it wasn't a necessary and sufficient condition," said Minoru Shioiri, manager of foreign exchange at Kokusai Securities. The U.S. Labor Department Friday released data showing the non-farm payroll, a major yardstick of the U.S. job situation, increased by only 11,000, far smaller than the estimated increase of 245,000. Investment fund managers' wariness about their huge dollar holdings, which they accumulated last week when the dollar shot up more than two yen, also prompted them to sell the U.S. currency, dealers said. "Fund managers have recently become very risk-averse, especially after they suffered huge losses on set positions last year. They don't spare time to unwind their holdings to square their positions these days," said Yasunari Ueno, chief economist at Fuji Securities. The dollar lost more ground Monday afternoon after the release of a better-than-expected core machinery orders in May, dealers said. Orders rose to Y940.65 billion, up 4.5% from April, compared with a forecast for a 1.7% rise. At 0515 GMT (1:15 a.m. EDT), the dollar was quoted at Y107.02, below Y107.90 late Friday in New York. The dollar was at Y107.65 late Friday in Tokyo. The euro was at $0.9514, higher than $0.9479 late Friday in New York. The euro was at $0.9504 in Tokyo Friday. (END) DOW JONES NEWS 07-10-00 01:30 AM