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

To: Steve Fancy who wrote (9341)	11/3/1998 1:37:00 PM
From: posjim	Read Replies (1) \| Respond to of 22640

some buying starting up at 1pm..no news in Bloomberg..turned it around from 76 1/2 to 79..still no news today that I can find..you around sf? Congress gets the ss bill tomorrow. So, if we get the dead of the rolls we should be fine..:) enjoy, Jim

To: Steve Fancy who wrote (9341)	11/3/1998 2:05:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil's Cardoso: Reforms Needed Before Rates Will Be Cut Dow Jones Newswires SAO PAULO -- As Brazil's Congress gets set to tackle a key reform bill this week, President Fernando Henrique Cardoso said Tuesday that interest rates won't be cut until needed structural reforms are approved. "To cut interest rates, we need to reduce the public deficit, and for that, we need to approve reforms," Cardoso said. "There's no way to escape this." Brazil's key lending rate was nearly doubled to 49.75% in September as investors fled the country following Russia's default and devaluation in August. Cardoso said he is confident that Congress will approve the three outstanding points of the social security bill, which has been delayed in Congress for more than three years. The lower house begins final deliberations on the controversial points Wednesday. "Congress will not fail in its duty to pass the social security reform bill," he said.