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To: Defrocked who wrote (43708)	5/27/1999 9:51:00 PM
From: NickSE	Respond to of 86076

Another story... ANALYSIS-Japan easy credit feeds 'dead money' glut biz.yahoo.com TOKYO, May 27 (Reuters) - Japan's ultra-easy credit policy, designed to bring the economy back to life, has also flooded the money market with idle funds, leaving traders with little to do and numbing bankers to credit risk, market sources say. Nick

To: Defrocked who wrote (43708)	5/27/1999 9:52:00 PM
From: John Pitera	Respond to of 86076

I have been looking at the 2.7% fall in industrial spending in Japan, I see that 10 yr JGB yield is back up to 1.56. we left that 1.30 area in a hurry. 14 basis points up in 2 days. The strategists really feel that the move down in rates in Japan is over and we will be trading higher. More steps needed to revive the economy. I sold MBK at 14 1/2 in april and watched it stay above that for 7 weeks and was saying to myself I'm never going to get it back it back below 14.5 but it's now been back as low as 12.5 and I still think that the Nikkei will have several more weeks of weakness. MBK, may be a big time buy at 11, I have some other Japanese stocks that I am watching as well. More on that later