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To: Defrocked who wrote (43646)5/27/1999 8:21:00 PM
From: John Pitera  Read Replies (1) | Respond to of 86076
 
I hear what you are saying about watching $/yen and trying not to be brave in the face of a cloudy picture and definate potential risk.

Let's see, long bond losses of 9%
since February plus $yen gains of only 4% (from 115 to 120)
and accrued of only 1.25% equal 3.75% losses in 1/3 of a year.
Hmmmmm. They could be making sure they don't get burned
as badly as last Oct in that wicked one-week move
from 135 to 115. I'm going to wait a while longer before
any $yen trades.