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

To: gregor_us who wrote (24511)	1/12/2005 5:13:17 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

Japanese MOF doesn't care about mark to market. they only care about keeping JPY from running too far, as that would be devastating to their economy. e.g., back in 1995, when JPY/USD went to 80, both fixed and variable costs on Japanese industrial infrastructure had negative margins. that is the proverbial situation of losing money and trying to make it up on volume. MOF realizes that Japan's economy is taking the bullet train down the toilet if USD plunges, and that's their primary concern.