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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (5362)	5/25/1999 4:57:00 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

A puzzling downgrade of banking stocks - Y2K no less? cnnfn.com

To: Justa Werkenstiff who wrote (5362)	5/26/1999 11:11:00 PM
From: Lars	Respond to of 15132

Justa, >>> Well, the probabilities that the Fed. will tighten anytime soon have materially decreased IMO. USA Today reports that emerging market credit spreads have widened once again. The emerging markets are contracting again in the equity and credit departments and since this was the primary reason why the Fed. eased rates last fall, the probability that the Fed. will tighten is materially less in the face of this situation. >>> I agree. As I believe someone mentioned here already, I don't see many companies with pricing power. In fact I see a good many and they are all under pressure to cut prices and costs. The emerging markets are an interesting variable in the equation.