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To: Merritt who wrote (55179)10/10/1998 3:05:00 PM
From: Lee  Respond to of 58727
 
Merritt,..>Re: it makes sense to sell treasuries to raise cash if you're Japanese.

Oops, you're right and some serious selling started in the night session Thursday. Yep, a 12% haircut in dollar would make some longs tend to unload. Last I saw, the Japanese were holding approximately 262B US treasuries, 2nd to the UK.

cbot.com
Options OI & Vol

Regards,

Lee