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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: NickSE who wrote (12166)	4/28/1999 12:41:00 AM
From: Don Green	Respond to of 99985

The dollar fell more than two yen from its early Tokyo high to 118.25 yen in early afternoon trading on Wednesday on rising expectations that Japan would eventually adopt a large supplementary budget, bankers said. The dollar's early high in Tokyo was 120.28 yen, compared with 120.32/42 yen in late trading in New York on Tuesday. Major sellers included hedge funds, which were unwinding large long-dollar/short-yen positions built on Tuesday, and local exporters who were placing offers on the dollar intermittently from early in the day, market sources said.

To: NickSE who wrote (12166)	4/28/1999 9:58:00 AM
From: Les H	Respond to of 99985

The Japanese GDP is expected to drop 1.5 percent this year. They also had 3 million 'employees' on the payroll of companies that are getting paid to keep them off the street. If they did the same restructuring (also called downsizing or rightsizing) as the U.S., their unemployment rate would hit 10 percent.

To: NickSE who wrote (12166)	4/28/1999 7:08:00 PM
From: NickSE	Read Replies (5) \| Respond to of 99985

GOLDMAN SACHS' COHEN: US EQUITY MARKET REMAINS AT FAIR VALUE economeister.com WASHINGTON (MktNews) - The U.S. equities market remains at "fair value" even while continuing to surge to record levels, said Abby Joseph Cohen, a partner at Goldman Sachs. "The market is not overvalued and I'm basing my estimates on a conservative outlook for inflation and earnings growth" said Cohen, who is known for her bullish stance on the market, adding that those who feel the market is overvaled are using outdated models or poor forecasting.