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To: BGR who wrote (89469)	1/15/1999 3:05:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 176387

Apratim, I agree. But you still need to watch out for spreading deep recession in Latin America. Brazil needs to cut government spending so that the IMF bailout package is made. That was one of the conditions. But this is easier said than done because of the inevitable internal economic dislocations. Politicians will be unhappy about voting for this kind of measure. TTFN, CTC

To: BGR who wrote (89469)	1/15/1999 4:02:00 PM
From: jhg_in_kc	Respond to of 176387

BRAZIL CRISIS OVER (frmYahoo news) Analysts had predicted stocks were in for a nasty opening as global stock markets tumbled on news that Brazil, the world's eighth-biggest economy, had given up defending its currency. But stocks rebounded very quickly. Analysts said the markets could now focus on the robust U.S. economy. The market has been plagued by worry about Brazil since it devalued the real on Wednesday by more than 8 percent to stem the massive wave of capital that was fleeing the country. ''Maybe the worst of the Brazilian situation is behind us and now we know where we stand,'' Ned Collins, head of trading at Daiwa Securities America, said.