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

To: Steve Fancy who wrote (11857)	1/16/1999 12:22:00 AM
From: Alfredo Nova	Read Replies (2) \| Respond to of 22640

Steve, this is the beginning of the end of the endemic crisis of the emerging markets. Truly, until last fall, and until yesterday, they should have been called "submerging markets". What this historical 33% surge tells us is that from now on it will be much more difficult for monetary speculation to attack currencies, the IMF is winning the war against planetary volatility, two large areas of monetary stability (dollar and euro) are better than one, and the decision of President Cardoso to let the markets freely determine the value of the Real could have not been more timely nor more appropriate. Buying any more UBB Monday on the likely technical correction? ciao Alfredo