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


To: TigerPaw who wrote (29450)10/3/2003 10:32:12 AM
From: Jim Willie CB  Respond to of 89467
 
currency action today: much ado about nothing

euro back to 116.3 from mid-117 earlier this week

yen holding at 90.3 after breaking out

canuck nicely at 74.4

the temporary rise in jobs will hurt USTBonds greatly
it will spark agency hedge convexity again
it will hurt bond speculators
we have seen the double top in for bonds

the rub on USGovt deception for economic strength is that it gives an assist to the bond selloff and its massive damage

GOLD WILL BE THE GREATEST BENEFICIARY OF THE BOND SELLOFFS
IN FACT, A BOND DECLINE IS THE ESSENTIAL INGREDIENT

/ jw