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.
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.
posted by Johnny @ 6:57 PM
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