Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.570

-4.5%

Dec 26 9:30 AM EST

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To: James C. Mc Gowan who wrote (9608)	11/11/1998 6:07:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Welcome James. Does not appear the funding package is reliant on any further immediate steps from Brazil. I expect the announcement this week, or watch out below. I'm waiting know for interest rate news which should come anytime now...looking for a 5-8% drop. It occurred to me yesterday they may want to tie any rate cut in with the IMF announcement if possible. It does stike me as odd that the money may just be handed over. Maybe we'll see 10 lawmaker show up once this loan is secured. I hope they don't take the attitude that they're over the hump. After any initial rally we may experience, Bovespa will likely largely track fiscal package progress in Congress. Without near immediate results their markets will likely trend downward with increasing vengence as time rots away. I do think Brazil will somehow continue to bumble along and eventually get through this, but it may be slow going. regards, sf

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