Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.450

-4.3%

Jan 23 9:30 AM EST

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To: TokyoMex who wrote (8321)	9/20/1998 1:14:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Thanks for the article TM. Regarding devaluation, I think Brazil has made their intention clear, and I personally believe them when they say they will do everthing possible to defend their currency. I think a total global meltdown would be the only situation underwhich they would resort to this drastic step, although I have to agree this is not out of the question. You also have to remember their weekly mini-devaluations amounting to about 7% a year. If we can get beyond the Clinton tapes and likely impeachment concerns, that oughta put us back to earnings watch for the next few weeks. I am concerned however that the likely impeachment of the pres is not built in at this time. sf

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