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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.511+2.0%3:50 PM EST
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To: djane who wrote (7286)8/30/1998 9:51:00 PM
From: MGV  Read Replies (2) of 22640
 
(My read is that greed will return upon any of the
following, among others: Japanese banking reform and tax relief,
Russian debt restructuring, hint of strength in commodity prices,
Cardoso re-election, etc., etc. - stay tuned.)

Japanese reform is the most critical one because it is the one that goes the farthest to dealing with the currency risk in Brazil. IMO, The re-election of Cardoso should not be expected to have a significant impact on TBR in and of itself because it largely has been discounted into the price already. Of course, the reelection of Cardoso is critical to the Brazilian economy and by extension TBR.

If you hear news of credible reform in Japan, you can be sure that someone will be going a little longer in TBR.
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