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To: Stoctrash who wrote (45611)	6/11/1998 9:19:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

I wonder if that means 15k on closing basis... Ike frequently talks about closing basis tornados flying all around me hitting all around town and I am still on the computer (just what I need..my computer being fried from some other source) guess I should go get in the bathtub come to think of it I need to take a hot bubble bath anyway... I heard of electricity going in through the pipes and frying someone in the tub... dont know if that is true...maybe someone was just yankin' my chain...

To: Stoctrash who wrote (45611)	6/11/1998 10:46:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Just a thought; I think the breakpoint on the Nik is a bit lower but I forget exactly where it is. Perhaps 14, not 15. The rationale, in brief, is as follows. Because the break in the Nik would cause capitalization problems, BOJ would have to sell US Treasuries to raise funds. Backtracking just a tad, low Japanese rates of return have made it profitable for BOJ and Japanese institutions to buy US Bonds for the higher yield. So the fluctuation of the YEN is important with respect to this, but more important is liquidity. A drop in the Nik of significance would force the BOJ to repatriate money through the sale of holdings in US Treasuries. I know this is a simplistic overview, but that's the general idea as I understand it.