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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (31605)	6/6/2005 11:37:35 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Fed's Greenspan Says Low Bond Yields Remain Unsolved Puzzle June 6 (Bloomberg) -- Federal Reserve Chairman Alan Greenspan said the ``unusual' decline in long-term U.S. Treasury yields still can't be fully explained and that hedge funds may be over- reaching as they search for higher returns. ``The pronounced decline in U.S. Treasury long-term interest rates over the past year, despite a 200-basis-point increase in our federal funds rate, is clearly without precedent,' Greenspan said today in the text of prepared remarks to the International Monetary Conference in Beijing via satellite. Greenspan didn't discuss the state of the economy or monetary policy.......... bloomberg.com

To: Elroy Jetson who wrote (31605)	6/6/2005 11:59:24 PM
From: mishedlo	Respond to of 116555

ECOFIN Belgium´s Reynders says he hopes ECB will cut rates Monday, June 6, 2005 5:38:44 PM afxpress.com Belgium's Reynders says he hopes ECB will cut rates LUXEMBOURG (AFX) - Belgian finance minister Didier Reynders said he hopes the European Central Bank will cut interest rates Reynders was commenting on an interview in German daily Handelsblatt quoting European Central Bank chief economist Otmar Issing as saying the ECB's monetary policy "does not rule out" an interest rate cut "I hope it is possible for the ECB to take a decision (to lower rates). But Mr Issing is not alone," Reynders said on his way into a meeting of euro zone finance ministers

To: Elroy Jetson who wrote (31605)	6/7/2005 12:06:16 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Greenspan sees China yuan move ´reasonably soon´ Tuesday, June 7, 2005 2:52:10 AM afxpress.com Greenspan sees China yuan move 'reasonably soon' BEIJING (AFX) - US Federal Reserve Board chairman Alan Greenspan said he believes that China will adjust its foreign exchange regime "reasonably soon" He did not elaborate on why he believed a move would be made soon though he said a more flexible system is in China's interest "It is very much to the advantage of China to introduce a flexible exchange rate and I'm certain they'll take it on reasonably soon," he told a banking conference in Beijing. His remarks were relayed via satellite from the US He said that the cost of sterilization of foreign financial assets, aimed at reducing the impact of foreign assets on the domestic money supply, cannot go on indefinitely Greenspan added that pegging the exchange rate subsidizes certain types of capital allocations in the Chinese economy. He also said that if the yuan appreciates it will not have a major impact on the US trade position If the yuan appreciates, the US will likely import less from China but replace those goods from other countries, he said The yuan is effectively pegged at 8.3 to the dollar