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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (741)	1/13/1999 9:03:00 AM
From: Worswick	Respond to of 2794

"Sao Paulo, Jan. 12 (Bloomberg) -- Brazilian investors refused to trade long-term futures contracts on the real, concerned Brazil may be forced to weaken the currency to ease interest rates and stem capital flight. ''Things are not good at all,'' said Alexandre Horstmann, a money market trader at Banco Marka SA in Rio de Janeiro. ''Rates soared and nobody wants to trade the real. Investors are afraid Brazil simply won't meet all its commitments with the IMF.'' In Brazil's futures market, which normally trades currency contracts of up to two or three months, there were no takers on the contract that expires in April. This underscores the growing concern about Brazil's ability to protect the currency, as rates soar, stocks tumble and investors pull money out of the country". For more infornmation on the ongoing crisis check out SI's poster Steve Fancy and others who re really on tops of this situation at Message 7240094