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To: Skeeter Bug who wrote (30431)	3/17/1998 12:37:00 AM
From: Joe Fang	Respond to of 53903

Okay...let me try again ( I didn't like my last answer so I deleted it (g) If the Japanese uses yen to buy U.S. Gov't securities, they are essentially contributing to the dollar supply (in return, they get an IOU). Assuming that demand for the dollar stays constant, but the supply of dollar increases, interest rates (cost of borrowing) would decrease. Joe P.S. thanks for your analysis of MU

To: Skeeter Bug who wrote (30431)	3/17/1998 2:57:00 AM
From: Herschel Rubin	Read Replies (1) \| Respond to of 53903

Skeeter, O.K. here 'tis: When demand goes up for bonds (I'm referring to the April 1 scenario when Japanese savers will be able to invest in foreign instruments), the price of bonds go up. Remember, bonds move inversely with interest rates, so when bonds go up, interest rates drop. Still curious to get an answer from Earlie about the Japanese legislation that will permit ordinary Japanese citizens to invest abroad after April 1, 1998. This sounds like a boon for our markets (and maybe it'll even incrementally help MU). Good luck to you guys who are long on MU. I don't have a position in MU. Just remember, market orders to sell at the open can cause you to be filled at the bottom of the initial leg down then there's usually some retracement. I've been there before - very gut-wrenching! It is so hard to salvage a long position at the price you want when the stock drops significantly at the open. JMHO. Herschel