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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (1487)	4/29/1999 1:17:00 PM
From: Paul Berliner	Read Replies (1) \| Respond to of 3536

This is a very interesting piece of news about the Argentine economy that one can derive from Agco's earnings release. I did not see this mentioned in CAT, DE or CSE's releases. Strength in Brazil & weakness in Argentina the likes of which have not been seen for a decade???? >South America -- South American industry retail unit sales of tractors during the first quarter decreased 8% when compared with the prior year period. Continued strength in the Brazilian market has been offset by significant decreases in the other South American markets. AGCO's first quarter 1999 retail sales were higher than the prior year in Brazil and were lower in the rest of South America. "The Argentine market, which continues to suffer due to the region's economic uncertainty, low commodity prices and tightening credit, experienced the worst quarter for industry sales in a decade," stated Mr. Shumejda. "The strength in the Brazilian market is being fueled by a combination of higher income to the country's farmers due to the Brazilian currency devaluation as well as advance purchasing of equipment due to inflationary fears."