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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (8162)	11/16/1997 7:18:00 PM
From: Rational	Read Replies (2) \| Respond to of 18056

Zeev: I recall having read that it is the Japanese Govt pension plan and insurance system. A standard practice in other countries is to have the central bank hold US Treas. But, the massive trade surplus in US$ is flowing somewhere else in the Japanese system. I do not know the exact details, but the Japanese have certainly found a way to do it. They will sell as much as necessary to lift up the bank capital, and not more because more selling will hurt exports. Again, a test of all these points will be: Japanese stocks going up or remaining steady and the dollar falling against yen. Zeev, it looks like we can predict the market better (??) than the CTYS managerial action!! <VBG> Sankar