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To: SKIP PAUL who wrote (37293)	1/28/1999 1:39:00 AM
From: GST	Read Replies (1) \| Respond to of 164684

Skip -- Looks like the markets are going to remain irritable for a while. Global bad debts have not been fixed, and in some cases are getting worse again. Expect yield spreads to widen and US stocks to come under pressure. There does not seem to be much awareness of China's debt problems. It is so rarely mentioned in the western press. Greenspan speaks tomorrow morning. He is likely to be irritable also. Foreign investors will be watching. What do you think he will try to tell them? Maybe he will say 'come and join the party, and I will get out another punch bowel to make sure there are enough drinks for everybody'. 'Here, have some more AMZN.' But I don't think so. From Hong Kong. <<''Today's market fall is mainly due to weaker U.S. stocks and lingering worries about the debt problems of mainland Chinese companies,'' said Alan Pau, associate director at South China Securities.>>