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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (6772)8/17/1998 4:51:00 PM
From: MGV  Respond to of 22640
 
Many investors with long positions in Russian debt have taken short positions in Brazil's "C" bonds and global bonds as a sort of rough hedge.

I think this will prove to be an ineffective trade. We are finding out at an increasing rate that there are real distinctions between Brazil and Russia. I would endorse the reverse trade (long Brazil and short Russia). The way it is, the traders could end up being slammed on both sides based on fundamentals.


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