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To: goldsnow who wrote (8264)	3/12/1998 10:32:00 PM
From: Abner Hosmer	Respond to of 116764

ANALYSTS: STRONG US SALES NOW BEG QUESTION OF ASIAN IMPACT economeister.com

To: goldsnow who wrote (8264)	3/12/1998 10:42:00 PM
From: Abner Hosmer	Respond to of 116764

GERMAN MONETARY WATCHDOG WARNS CONDITIONS FOR EMU UNSOUND economeister.com >> In other comments, the group lamented it was "extremely hazardous" that EMU aspirants still haven't agreed the strategy by which Europe's central bank is to govern future monetary policy. ... "Thus, there's great danger that the ECB will ultimately lapse into a pragmatic policy. Monetary pragmatism means inflationary policy," the statement said.<<

To: goldsnow who wrote (8264)	3/12/1998 11:02:00 PM
From: Abner Hosmer	Respond to of 116764

OIL STOCKS RISING AS WORLD OUTPUT UP, DEMAND DOWN economeister.com >>Moreover, industrial oil stocks in member countries of the Organisation for Economic Cooperation and Development rose by 800,000 bd in January, amid growing evidence of difficulties finding storage space. "Projected supply and demand trends indicate that this problem could intensify, unless less oil is shipped."<< REALITY CHECK: US OIL PRICES BOTTOMING BUT UPSIDE LIMITED economeister.com >>...to the extent that energy prices are ever sustained for more than a few months, Lichtblau forecasts "a very low price" outlook for crude and product prices for the rest of 1998. Nor does he believe that the approaching summer driving season will do much to shore up declining gasoline prices, which are approaching post-World War II lows when adjusted for inflation and tax increases.<< ANALYSIS: DESPITE POSITIVE 1998 OUTLOOK, MEXICAN ECONOMY HAS ROUGH SPOTS economeister.com >>"What has me worried, and more so now than before, is the problem in Mexico's external accounts," said Hector Chavez, chief economist at Santander Investment... ..Tax revenues from state-owned oil giant Petroleos Mexicanos account for almost 40% of total public sector revenues, making the government deeply dependent on the price of oil. Mexican Maya, Olmeca and Istmo crudes were expected to fetch an average price of $15.50 per barrel this year, according to government forecasts made last fall, but sold for only slightly more than $12 a barrel during the first half of January... .."The risk comes more from the outside than the inside," said Chavez. "Mexico's fundamentals remain very good."<<