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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (368)	7/30/1998 2:40:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Hi Robert, Thanks for the compliment. What happens to the Japanese savings pool is indeed a big question. Yen rates themselves are unlikely to rise as the new finance minister is being quite clear that they will pursue inflationary policies and will not intervene to support the currency. Put this against the backdrop of the recent liberalizations in the financial markets, particularly in the trust sector I would not be surprised to see significant diversification out of the yen. This is one of the reasons I am medium term bullish on US treasuries. Henry