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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (2876)7/1/2003 10:14:27 AM
From: Wyätt Gwyön  Read Replies (2) | Respond to of 4907
 
Grace, why do you say the Fed cannot fix interest rates? sorry if i misunderstood you, but i thought you said that. if you meant in a more limited context, please elaborate.

obviously it fixes the Fed Funds Rate, no?
and it fixed the long bond at 2.5% back in the early 40s, no?

Jim Grant always says the Fed can either fix the rate, or fix the money supply, but not both at the same time. he likens this to the market situation of all monopolists who can set either the price or the supply of their goods but not both at the same time.



To: GraceZ who wrote (2876)7/1/2003 11:05:14 AM
From: Mark Adams  Read Replies (2) | Respond to of 4907
 
I'm not sure what you mean by the term "yen savings". Do you mean Japanese savings?

Yes. It's been a pet theory of mine- that japenese savings have been partially responsible for moving global rates down.

I hate the idea of holding something all year for 5% yield only to have 10% get knocked off over night.

That's what I keep struggling with.


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