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Market Update : 
Inflation Worries are Back
Author: 123jump.com Staff
123jump.com
Last Update: 2:38 PM ET August 05 2005

(Continued)

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Treasury’s return of 30-year bond to take advantage of the thin spread between long and short term bonds is still fresh in the market. Oil stays high and trades higher in the day as traders find every reason to push oil to a new high level. Strong employment level and lowest unemployment level since Sept 2001 will lead to more consumption in the second half. In a busy IPO market five companies raised total of more than $800 million.

 
OTHER NEWS

The People’s Bank of China announced in its second quarter report that it will increase flexibility in its exchange rate at an appropriate time, based on market developments, economic and financial trends. Since the revaluation reform of July 21, the central bank has allowed the yuan to rise only slightly only.

A parliamentary committee approved to privatize Japan’s postal savings system and create the world’s largest bank. The package, which is in the center of a severe political dispute, will go to the upper house full chamber which is expected to vote on the measures on Monday.
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