Thu 13 Jul 2006
Gee golly gosh, 9 hours away from a possible rate hike by the BoJ and the stock market takes a bigger dive than an Italian soccer team at a water park.? “But oil hit a new all time high!”? Sure.? “But Israel!”? Ok, I’ll give you that.? But I just can’t get it out of the back my mind that maybe, just maybe, some Yen-tottin’ equity-holdin’ types decided to squeeze every last second out of that free money?that they could and then cashed out.? Sure, the rate hike has been broadcast in the media but why would you not wait until you had to sell?? Though I’m sure the perfect storm today wasn’t the ideal gauntlet to run on the way out.? But I have to wonder what’s the big deal about 0.25% anyway (though I wouldn’t be surprised if we see 2.00% in a year or so)?? It’s still the cheapest money around.? Oh wait, this is the same world that will drop a stock like Materazzi if it?”just”?meets?earning expectations.? Fear, thy name is…well, it’s?Fear but you get the point.