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

To: djane who wrote (7096)	8/25/1998 12:07:00 PM
From: MGV	Read Replies (1) \| Respond to of 22640

I do not trade the TBH options but, they most likely are American, meaning you may exercise at any time. By the way, If you write covered calls at these prices you likely will have your TBH called away.

To: djane who wrote (7096)	8/25/1998 1:34:00 PM
From: djane	Read Replies (1) \| Respond to of 22640

Brazil crrnt accnt gap 3.94 pct/GDP 12 mos to July Tuesday August 25, 12:12 pm Eastern Time BRASILIA, Aug 25 (Reuters) - Brazil's current account balance of payments gap narrowed to $31.50 billion, or 3.94 percent of gross domestic product, in the 12 months to July, compared with a deficit of 4.07 percent of GDP in the year to June, the Central Bank said. The current account, which includes imports and exports of merchandise and payments and receipts for services such as shipping, banking and tourism, posted an identical 3.94 percent percent/GDP deficit in the 12 months to July 1997, the bank said. Economists say a high Brazilian current account gap makes its currency vulnerable to speculative attack. The gap, however, is narrowing and has already fallen below a forecast of 3.95 percent/GDP for 1998 as a whole as seen in a Reuters poll of economists (BRAAN). The current account deficit in 1997 was 4.2 percent/GDP. The bank also said net foreign reserves in July fell to $69.368 billion, compared with $70.06 billion in June. According to the international liquidity concept, which includes accounts receivable, the reserves were $70.21 billion in July versus $70.898 billion in June. The bank also said net foreign direct investment between January and July reached $11.096 billion compared with $8.864 billion in the same period last year. For the month of July FDI totaled $2.534 billion. Related News Categories: currency, international Help Copyright c 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon See our Important Disclaimers and Legal Information. Questions or Comments?