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THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
(December 16, 1997) FINANCIAL INSTRUMENTS: The bonds received a minor scare last week on reports that Japanese investors were selling U.S. Treasury bonds. The amount turned out to be minor but alarmed the bond and stock market since Japan is the largest holder of U.S. bonds (nearly 10%). The Japanese government came out with a poorly kept secret last week. Recent measures to help the economy have not worked and it could be another 2 years before a turnaround is seen. Could we see a price of 6500 in 1998?
Stephen Connell and William Frejlich
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