Greenspan lets things simmer

Article Abstract:

US markets were prepared for a rise in interest rates and see policy as having moved to neutral after the rate rise in Jun 1999. Some analysts argue that he is nervous about the financial system and ist vulnerability to rising rates. He may see little point in seeking to influence stock prices, and may argue that any bubble will burst whatever he does, or that a bubble may not exist, since high stock prices may be justified. There is no certainty that the pricking of a bubble would leave the economy as a whole unaffected. A drop in stck prices of 50% would hit consumer and investor confidence.

United States, Interest rates, United States economic conditions

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Over the counter or over a barrel?

Article Abstract:

Foreigners purchased twice as many over-the-counter (OTC) shares in Japan in the first six months of 1996 than in the whole of 1995. This has proved to be an ill-advised move, with the Jasdaq index of OTC shares having declined by 8% since the beginning of 1996. The OTC market has lost a fifth of its value since Jul 1996, and there are indications that it will fall further. The decline has been prompted by growing signs of economic weakness in Japan and by the fact that many OTC companies have announced that 1996 profits will be lower than forecast.

Foreign investments, Japan, Over-the-counter markets, Over the counter markets

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Everlasting LIFFE: futures exchanges

Article Abstract:

LIFFE, which has been in business for 15 years, has growing into the second largest futures exchange in the world, outpacing the Chicago Mercantile Exchange. A combination of good luck and good management are responsible for LIFFE's success. Its future is discussed.

Management, Futures market, Futures markets, England, London International Financial Futures and Options Exchange

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