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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (10335)	3/17/2004 3:00:43 PM
From: Jim Willie CB	Respond to of 110194

mostly Japanese Repatriation but also too many USDollars to handle it has to go somewhere, so it finds stocks they cannot invest in JGB bonds, not at 1% remember Japan has a $80-90B annual trade surplus with USA they have a $40-50B surplus with China Chinese yuan is pegged to the US$ so that is $130-150B in equivalent dollars it pushes up the JYen, like it or not the Nikkei rise has little to do with improving economic conditions and everything to do with sloshing liqudity that has little alternative, at a time when Repatriation is underway let's see if the Nikkei continues into April and May I doubt it will my guess is stall since Chinese exports continue from Japan while Repatriation goes into reverse / jim

To: Crimson Ghost who wrote (10335)	3/17/2004 3:21:52 PM
From: mishedlo	Read Replies (2) \| Respond to of 110194

Japan bears take notice. Japan EFT (EWJ) up 3.5% to a new 12 month high today. What is especially impressive is the ability of the Nikkei to rally despite a big jump in the yen. I am not positive you have that right. Of course I am not sure you dont. At any rate, this close to closing the books, I think a RISING yen favors the books. To get sales throuout the year I think a falling YEN boosts sales. That is my understanding. If so it would explain the lack of intervention FOR NOW, only to resume after March. We will see. Mish