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To: Cynic 2005 who wrote (2332)	6/17/1998 9:25:00 AM
From: Joseph G.	Read Replies (1) \| Respond to of 86076

RESEARCH ALERT - Morgan cuts Intel EPS NEW YORK, June 17 (Reuters) - Morgan Stanley Dean Witter analyst Mark Edelstone said Monday that he cut full year 1998 earnings per share estimate for Intel Corp. (INTC - news) to $3 from $3.25 and cut full year 1999 EPS to $3.80 from $4.25. ''The key issues were weak second quarter demand for microprocesssors and more aggressive price cuts in September and October,'' Edelstone said.

To: Cynic 2005 who wrote (2332)	6/17/1998 9:32:00 AM
From: Joseph G.	Respond to of 86076

Initial reaction, IMHO, comes from speculators who bot US T-paper vs. Y, DM, etc., so to cover they have to sell T-paper. ANd, they have so called "Exchange rate stabilisation fund", using which Mexico was bailed out in 95. <<NEW YORK, June 17 (Reuters) - The benchmark 30-year U.S. Treasury bond extended early losses to more than a full point after currency dealers reported another round of Federal Reserve dollar sales. At about 0900 EDT/1300 GMT, the long bond traded 1-6/32 lower at 105-15/32 to yield 5.74 percent. ''The whole thing going on now is people looking at the currency,'' said Larry Dyer, a Treasury market strategist at Credit Suisse First Boston. ''The same way it drove the market up, it ought to have a negative effect on the market as it goes down.'' Dyer estimated the September bond futures contract would lose 6/32 to 8/32 for each one-point loss in dollar/yen. By 0910 EDT/1310 GMT, the dollar had lost nearly six yen to stand at 137.41 yen. ''Given a pretty strong correlation, it's going to be the main feature for the market,'' Dyer said. ''With the U.S. spending money, you're not going to hear anything kind out of the Treasury.'' >>