Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (2089)	7/14/2002 11:35:44 PM
From: Mannie	Read Replies (2) \| Respond to of 89467

Standard and Poor's State Bond Ratings July 12, 2002> U.S. State Ratings and Outlooks: Current List standardandpoors.com Publication date: 12-Jul-2002 Reprinted from RatingsDirect U.S. State Ratings and Outlooks: Current List Analyst: Robin Prunty, New York (1) 212-438-2081 Recent Rating Actions State To From Date Tennessee AA/Negative AA/WatchNeg July 11, 2002 Colorado (Lease) AA-/Stable AA/Watch Neg June 26, 2002 Arizona AA-/Negative AA-/Stable June 19, 2002 Kentucky (ICR) AA/WatchNeg AA/Negative June 7, 2002 Ohio AA+/Negative AA+/Stable June 5, 2002 New Jersey AA/Stable AA+/Watch Neg June 4, 2002 Standard & Poor's State Ratings State Rating Outlook State Rating Outlook Alabama AA Stable Montana AA- Stable Alaska NR; Lease: AA- NM; Lease: Stable Nebraska NR NM Arizona NR; Lease: AA- NM; Lease: Negative Nevada AA Stable Arkansas AA Stable New Hampshire AA+ Stable California A+ Negative New Jersey AA Stable Colorado NR; Lease: AA- NM; Lease: Stable New Mexico AA+ Stable Connecticut AA Stable New York AA Stable Delaware AAA Stable North Carolina AAA Stable District of Columbia BBB+ Stable North Dakota AA- (ICR) Stable Florida AA+ Stable Ohio AA+ Negative Georgia AAA Stable Oklahoma AA Stable Hawaii AA- Stable Oregon AA Stable Idaho NR NM Pennsylvania AA Stable Illinois AA Stable Puerto Rico A- Stable Indiana AA+ (ICR) Negative Rhode Island AA- Stable Iowa AA+ (ICR) Stable South Carolina AAA Stable Kansas AA+ (ICR) Stable South Dakota NR NM Kentucky AA (ICR) Watch Neg Tennessee AA Negative Louisiana A Stable Texas AA Stable Maine AA+ Stable Utah AAA Stable Maryland AAA Stable Vermont AA+ Stable Massachusetts AA- Stable Virginia AAA Stable Michigan AAA Stable Washington AA+ Watch Neg Minnesota AAA Stable West Virginia AA- Stable Mississippi AA Stable Wisconsin AA- Stable Missouri AAA Stable Wyoming AA (ICR) Stable

To: Jim Willie CB who wrote (2089)	7/15/2002 1:54:43 AM
From: abuelita	Read Replies (2) \| Respond to of 89467

capitulation - capitulation - capitulation. i'm sick and tired of hearing about capitulation! let's see if i understand this correctly. we have not reached a 'bottom' because there has been no capitulation, right? and capitulation has not occurred because the small retail investor has not yet given up the ghost. he still believes. he is still thinking, i'm going to ride the market back up - he still cannot come to terms with the fact that he's lost it all. right? so, capitulation will occur when these small retail investors (me and you and everyone else) throws in the towel and says - that's it. i'm outta here. right? is that when it happens? so, who is buying? what i want to know, is when we sell, when the small fry finally decides tosell, WHO the hell is buying and WHY are they buying and if they are willing to buy, WHY IN GODS NAME ARE WE WILLING TO SELL??? this is not a rhetorical question. rose

To: Jim Willie CB who wrote (2089)	7/15/2002 2:44:32 AM
From: stockman_scott	Respond to of 89467

Fed Focus By Paul McCulley \| July 2002 pimco.com <<...Capitalism's beast of burden won't go away until the Fed is willing to slay it. It's time for Mr. Greenspan to use all his armaments. Unless he does, he will ride into the sunset himself as the Pretender, who started out so young and strong against inflation, only to surrender to debt deflation...>>

To: Jim Willie CB who wrote (2089)	7/15/2002 3:02:19 AM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Dollar falls to 10-month low vs. yen By Mariko Ando, CBS.MarketWatch.com Last Update: 2:37 AM ET July 15, 2002 <<...TOKYO (CBS.MW) -- The dollar weakened against the yen Monday to its lowest level since Sept. 11. The dollar's weakness fueled selling of Japan's export-related shares, already hurting from Wall Street's declines and worse-than-expected consumer sentiment data in the U.S., Japan's biggest trade partner. A fall in major exporters such as Nissan Motor and Canon dragged down the key Nikkei Average by 226.30 points, or 2.1 percent, to close at 10,375.15. The broader Topix gave 1.9 percent to 1,000.48. Elsewhere in the region, South Korea and Taiwan stocks fell as investors moved to lock in profits after the indexes each soared nearly 4 percent on Friday. Dollar at 10-month low vs. yen The dollar lost more ground against the yen in the afternoon session, falling to as low as 116.16 yen. It was quoted at 116.85 yen in New York late Friday. The dollar has fallen more than 3 percent against the yen since the start of this month, and about 13 percent in the past three months. Investors feared that the yen's strength against the dollar would erode exporters' overseas revenues when exchanged into the home currency. Slow growth for such companies could hinder Japan's export-oriented economic recovery. "Both equity and currency traders are very nervous because they are wary of the Bank of Japan's intervention as the yen further firms vs. dollar. The market also is concerned about U.S. corporate earnings this week -- that's why trading is very thin," said Teruhisa Ishikawa, a deputy manager for Izumi Securities. "I would advise individual investors to stay sidelined for a while, until the market start showing a clear direction with corporate earnings and other economic data." The BOJ, which has intervened to stem yen strength seven times since late May, has repeatedly said it is ready to take action again "when necessary."..>>

To: Jim Willie CB who wrote (2089)	7/15/2002 9:22:54 AM
From: stockman_scott	Respond to of 89467

The Euro Jumps to Parity vs. the Dollar Mon Jul 15, 8:30 AM ET By Jeremy Gaunt, European Investment Correspondent LONDON (Reuters) - The euro traded above parity against the dollar for the first time in over two years on Monday, jumping more than one percent against the greenback which has been battered by a succession of U.S. corporate accounting scandals. Major share markets across the globe, which dropped to five-year lows last week, continued to ease as investors worried that upcoming U.S. corporate earnings reports could send Wall Street and other world bourses lower still. The dollar also fell to a near 10-month low against the yen and multi-year lows against sterling and the Swiss franc while European bond yields eased slightly as prices firmed. "The dollar is under pressure from everything from economic problems to asset reallocation away from the U.S. and corporate accounting problems," said Julian Jessop, chief European economist at Standard Chartered Bank. "It's difficult to see any positive factor for the dollar at the moment," he said. By 8 a.m. EDT, the euro, which has gained more than 12 percent against the dollar this year, was trading at 1.0028 versus the U.S. unit, its best level since February 2000. The single currency has climbed nearly seven cents over the past month as news of improper accounting at U.S. firms WorldCom and Xerox accelerated the rally. Stock futures suggested that Wall Street would open mixed later on Monday. Weeks of sliding U.S. shares have undermined investor confidence and thrown up questions about the strength of the U.S. economic recovery. The weakness is seen keeping key U.S. interest rates steady. A Reuters survey on Friday found 12 of 22 Treasury bond dealers authorized to work directly with the Federal Reserve ( news - web sites) expect no change for the rest of the year. Markets, however, will be keeping a close eye on testimony on Tuesday by Fed Chairman Alan Greenspan ( news - web sites) before the U.S. Senate Banking Committee, his first public comments in six weeks. European bourses were down in midday trade, adding to last week's losses. The FTSE Eurotop 300 index of pan-European blue chips was off 0.44 percent after losing more than eight percent last week. The Euro Stoxx 50 index was down 0.33 percent. "In the short term, it's difficult to see any catalyst that will make people rush out and buy equities," said Matthew Leeman, a portfolio manager at Lombard Odier bank. In Japan, the Nikkei average lost more than two percent to end at a three-week low, hit by falls in brokerages and high-tech exporters due to concern over the weakness of U.S. stocks and further strength in the yen. The benchmark Nikkei average fell 226.30 points or 2.13 percent to 10,375.15, its lowest close since June 27. The Nikkei has lost about six percent since briefly clearing 11,000 on July 8 for the first time in a month. DOLLAR, BONDS The continued stock blues in the United States undermined the dollar. As well as finally falling through the parity level after weeks of flirtation, the dollar fell close to September., 2001, lows against the yen. "It's another week of dollar weakness. We will have a round of corporate earnings this week but faith will not come back quickly," said Stacey Seltzer, currency strategist at Brown Brothers Harriman. The dollar was 115.89 yen by midday. A drop below 115.76, the low on September 23, would take the greenback to its weakest since February 2001. The dollar also fell to its lowest since October 1999 against the Swiss franc at 1.4711, and its weakest against the pound since May 2000, at $1.5591. "What is going on in financial markets is a crisis of confidence in the U.S. So it's not something you can mend in just a few days," said Takehiro Sato, an economist at Morgan Stanley in Tokyo. Euro zone government debt yields fell on the firmer euro and stronger U.S. Treasury prices. The interest rate-sensitive two year Schatz yield was down 0.6 basis points at 3.839 percent, having hit a new a 4-1/2 month low at 3.818 percent. The 10-year Bund yield was down 1.2 basis points at 4.856 percent. Ten-year U.S. Treasuries were yielding 4.5763 percent.