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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Hans who wrote (12506)	10/22/1997 11:22:00 AM
From: IQBAL LATIF	Respond to of 50167

I think you will need to see 88 being the first hurdle been taken out- IBM and MSFT earnings have lifted the question over continued strenght of Techs, for me we have another 2 years before we see stagnation of demand in semis. I am sure of one thing ASEAN crisis will result into not only importing price stability and reduction of costs for many of the semis and tech companies. For me corporate earnings are in good shape so far. I expect weakening of economy- ASEAN drama is a leading signal for reduced industrial production and capacity utilisation, the badly bruised private sector and publisc sector are cutting a lot of expansion. I am thinking of bonds testing 114 level but towards the end of the year with a better visiblity of slowing demand yields will improve.