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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: MythMan who wrote (43155)5/26/1999 1:55:00 PM
From: John Pitera  Read Replies (1) of 86076
 
Big move in emerging bonds up 300 basis points in a week -ng-

Argentine officials have denied plans to devalue, but investors remain cautious, given the recent financial and economic troubles in Latin American countries.
Yield spreads between emerging market and other non-active U.S. government debt have swelled-although not quite to the degree seen last August through
October when a Russian debt default triggered a global liquidity crisis.
"There's concern and fear out there," Keller said, noting that liquidity strains in non-Treasury debt have started to emerge.
The benchmark J.P. Morgan Emerging Markets Bond Index (EMBI) has widened to about 1,200 basis points over U.S. Treasuries from about 900 last week and
high-yielding corporate bond spreads have widened to six-month highs as investors have reduced exposure.
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