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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.404-14.1%Dec 31 3:59 PM EST
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To: Steve Fancy who wrote (15401)5/19/1999 1:39:00 PM
From: wl9839  Read Replies (1) of 22640
 
Steve,

For what its worth, my friend with the Brazilian contacts says that today's market is being colored by apprehension that the COPOM may not in fact cut rates (or at least not as deeply as reported as recently as last night). Interestingly, the law suits and the pension reform issues were not mentioned (although the question was not asked directly). I agree that short term options in Brazil is like playing with fire, but what the hey, we have seen days with 10-20 point swings in the last couple of years.

On a side note, it seems that at least TRO is holding up in the general downdraft.

WJ
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