Word: yen
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...quickly that Usenet groups competed for the title of Canonical Clinton-Lewinsky Joke List. The Bulgarian daily Sega crossed the Balkans--and partisan lines--to set up a Website where Clinton loyalists could leave supportive messages for the President. And the Official Monica Lewinsky Anagrams Page (I Yen Woman Licks; Slick May Win One) expanded its lexicon to include her lawyer, William Ginsburg (Bill Wins...
...highest returns in its otherwise sagging portfolio. The roughly 5.64% yield on a 10-year Treasury bond is more than 3 percentage points higher than the payout on equivalent Japanese securities. Besides, any move out of U.S. bonds would drive down the value of U.S. currency, pushing up the yen. And a strong yen would make exports from Japan more expensive at a time when it must sell goods abroad to stay afloat. "Some people just refuse to understand that massive Asian selling of American securities makes no sense because it is not in Asia's interest," says Michelle Laughlin...
...signs were not good. Four major Japanese financial institutions collapsed last month, dragging the value of the yen to a five-year low. The Nikkei stock-market average ricocheted anxiously on every shred of news. The only figures on the rise were those for bankruptcies, unemployment and suicides. National confidence congealed into a deep gloom as headlines warned of the coming "Great Depression." The government that for so many decades guided the economy with an iron hand is floundering, seemingly at a loss for ways to yank the country out of its tailspin. Kazumi Ehara, an auto salesman in suburban...
...yen's cheap, so head for the Olympics in Nagano City, Japan. Only once before have the Winter Games been in Asia (Sapporo, 1972), and never before this far south (the same latitude as San Francisco.) Organizers who took reporters through the site last month jokingly said they may have to go to the local temple to pray for snow, which averages 2 in. in February in Nagano proper. Don't worry: the mountains, where a dramatic men's downhill route was designated last week, get more than 50 in. And aren't the four "Snowlet" mascots cute...
...raise needed liquidity, they might sell their holdings of Treasury securities." Since Japan owns more U.S. Treasury debt than any other nation (more than $300 billion), a sell-off would cause U.S. interest rates to climb, which would bludgeon stock prices and endanger America's economic expansion. The yen could plunge in value. Cheaper Japanese products could flood the markets and worsen the U.S. trade deficit. A trade war could result with America's third largest trading partner...