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

To: Steve Fancy who wrote (8611)	9/29/1998 5:05:00 PM
From: Steve Fancy	Respond to of 22640

Brazilian press bet on aid package at IMF Reuters, Tuesday, September 29, 1998 at 15:29 The government has twice hiked interest rates and reiterated its commitment to slashing its towering budget deficit, but local investors believe an international aid package is key for Brazil to shake off the financial doldrums. The IMF has said it was ready to help Latin America, but has not yet received any requests for cash. Brazil's leading daily Folha de Sao Paulo wrote on Tuesday Brazil was negotiating for two different aid packages. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8611)	9/29/1998 5:06:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Bovespa (INDEX:$BVSP.X) closes up after U.S. rate cut Reuters, Tuesday, September 29, 1998 at 16:35 SAO PAULO, Sept 29 (Reuters) - Brazilian shares inched up in late trade to close up 0.61 percent on Tuesday as news of the U.S. interest rate cut sank in, traders said. Sao Paulo's key Bovespa index closed at 6,869 points, up 42 points, after slumping more than 2 percent immediately after the announcement of a 25 basis-point cut in U.S. rates. The new benchmark rate is 5.25 percent. "The market reacted with nervousness, but soon realized that the fall was exaggerated," a trader at a local brokerage said. "The market had been expecting a cut of 25 points and that's what it got." Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8611)	9/29/1998 5:09:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Finance Ministry Declines Comment On U.S. Rate Cut Dow Jones Newswires BRASILIA -- The Brazilian Finance Ministry declined comment on the announced 25 basis point interest rate cut by the U.S. Federal Reserve, the ministry said in a statement Tuesday. Shortly after the decision by the Federal Open Market Committee of the Federal Reserve became known, the ministry's press office issued a two-line written statement saying "there won't be any comment." -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org

To: Steve Fancy who wrote (8611)	9/29/1998 5:12:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso Sees U.S. Rate Cut As 'Good' For Brazil Dow Jones Newswires BRASILIA -- Brazilian President Fernando Henrique Cardoso considers the 25 basis point rate cut by the U.S. Federal Reserve Board as 'good for Brazil', his official spokesman said Tuesday. Replying to a question at his daily press briefing on whether Cardoso welcomed the decision, presidential spokesman Sergio Amaral replied with a curt: 'Sure.' He declined to comment any further. -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org

To: Steve Fancy who wrote (8611)	9/29/1998 5:13:00 PM
From: Steve Fancy	Respond to of 22640

Sounds like Brazil ain't too thrilled. - sf <eom>

To: Steve Fancy who wrote (8611)	9/29/1998 5:15:00 PM
From: Steve Fancy	Read Replies (6) \| Respond to of 22640

Brazil real stable, $500 mln in dollar flight seen Reuters, Tuesday, September 29, 1998 at 17:04 SAO PAULO, Sept 29 (Reuters) - Brazil's currency closed unchanged in foreign exchange markets after the Central Bank was seen intervening to keep the real from weakening on expectations of dollar outflows on Tuesday. Brazil was seen losing another $500 million through its forex markets today, adding to dollar flight that has topped $30 billion since the beginning of August. In a bid to stabilize the real amid continuing dollar outflows, the Central Bank was seen selling dollars via state-owned Banco do Brasil, traders said. Copyright 1998, Reuters News Service