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

To: Bob Howarth who wrote (11667)	1/14/1999 12:40:00 PM
From: Steve Fancy	Respond to of 22640

Sounds like pretty smart move on their part. Earnings oughta start rolling out from the Telco's soon. Currency situation will settle down one way or the other. Just a little more patience Bob. Appreciate the input. sf

To: Bob Howarth who wrote (11667)	1/14/1999 12:51:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Tietmeyer Says Brazil Situation 'Better Than Many Think' Tietmeyer Says Brazil Situation 'Better Than Many Think' Frankfurt, Jan. 14 (Bloomberg) -- Bundesbank President Hans Tietmeyer said the economic situation in Brazil is not as bad as it seems, after Latin America's largest economy decided yesterday to let it's currency weaken more than had been expected. ''The internal situation there is better than many think,'' Tietmeyer, a member of the ECB's 17-member Governing Council, said at a panel discussion in Frankfurt. ''I hope very much that the uncertainties in Brazil will be solved soon.'' Brazil's central bank yesterday widened the limits between which it will allow its currency, the real, to trade against the dollar. The move had the effect of accelerating the real's depreciation. The real fell as much as 9 percent against the dollar after Brazil's move. Instability in Brazil is likely to spread to neighboring nations, weighing on economic growth in the U.S., which conducts a fifth of its trade with South America, as well as Europe. Tietmeyer said it was up to the Brazilian government to build up confidence in their new policies and reforms. He also called for more transparency in financial markets and increased cooperation between supervisory bodies. -------------------------------------------------------------------------------- © Copyright 1999, Bloomberg L.P. All Rights Reserved.