THEME: KOREA MUSINGS
The theme for today was S. Korea's central bank's intention to buy less dollars. This is what is being cited as the cause of today's sell-off in stocks & bonds. It is interesting that the massive rally of 2/11 was caused by rumours of Kim Jong Il's demise. Bracketing these two events was the DPRK's removal then return to nuclear talks.

I think it is important to monitor events in Korea carefully. George W. is trapsing around the world trying to play global peace maker. Rumours in Japan abound that W has cut a deal with China regarding DPRK that potentially cuts S. Korea out of the loop.

Let's keep an eye on this situation.