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Other Forums: What's New Bond Discussions Newslink |
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Posted by
BradyNet
(
Thursday, August 7, '03
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Reality behind the “strong commitment”:
<Today’s opinion page of El Caribe has Pedro Silverio, the head of the Cenantillas economic think-tank, describing what he considers to be a “hidden deficit.” He says that government officials, trying to show well-managed public finances, declared that they had achieved a RD$1.6-billion surplus for the first half of the year. Silverio says, however, that the numbers show something else…… If the adjustments are made for the debts with local banks and the money is not handed over to the Central Bank, it would seem that the government operated with a deficit of RD$3 billion during the semester of January to June of 2003. Government expenditures increased by 11.1%, rather than the decrease of 1% presented by government officials. Silverio has other concerns, such as the increase of the public payroll by 20.7%
The speedy IMF package is probably a reward for DR for sending troops to Iraq. Let us look forward to the day when the IMF is run by truly accepted economic and financial principles! Of course I am glad that help is coming to DR and pray that the help reaches the people.
<"Some people get a kick out of seeing a kitten being eaten alive by a snake," biologist Kees Ekeli, director of the Bergen Aquarium in western Norway, told Reuters. "It's cheap and it's a good size for a medium-sized snake." "It's heart-breaking for the people who have feelings for their kittens." ………. Public Aghast as Kittens Fed Alive to Snakes >
http://story.news.yahoo.com/news?tm...
~ IMF Deputy Director Carstens on recomendation for a US$618 million
stand-by for the Dominican Republic
Let me tell you something, markets already sold of from 93 to 85 cause of that....
In other words, priced in already....
Markets are always about the future....
Who lives from the past are museums!
Posted!
Hello <Monkeys>, have fun buing back what you sold in the morning, 2 points higher in the afternoon....
Sell CBonds at 84 in the morning and buy them back at 86 in the end of the section....
There is no great downside in this sell side trade any more....
Actually, when the downside shrinks, it becomes very dangerous to play with the sell side....
The wourld has no interest rates, 850 over is wuite good for a country with Brazil fundamental and in a country were nominal interest rates are about to shrink....
Have a nice trading day and say hello to <MONKEYS>!
Well, I passed you know.... Maybe cause I am married now, but maybe not....
I passed cause I bought at 50 and I like my cliping after all...
Do not see any great downside and the clip is great....
The wourld of no interest rates some times give us nice cliping when it prices wrongly some countries... That is the case of Brazil above 800 over....
Monkeys job!
Forgot to say, the Real looks cheap, you are going to have very small chances to buy it above 3....
I suggest you take that chances....
About CBond, it is at support and cheap, would not be surprised with a new rally from here.....
Stocks are well oversold in Brazil as well and looks very dangerous to sell them at this point....
Stocks in USA will probably acumulate or trade higher in the next sections....
I see a lot of low expectations in the air....
Expectations are being kept low, and that is good for risky assets...
Good Look!
<Tenet Healthcare, the second-largest US hospital chain, will pay the government $54m to settle claims that doctors in one of its California hospitals performed large numbers of unnecessary heart operations. The settlement represents the Justice Department's largest recovery ever for so-called "medical necessity fraud", where doctors allegedly perform procedures patients do not need to increase their billings. Between 1997 and 2002, authorities said that doctors at Tenet's Redding Medical Center performed "numerous" open-heart surgeries, angioplasties, heart valve replacements and other major procedures on healthy patients……….>
http://news.ft.com/servlet/ContentS...
http://www.nytimes.com/2003/08/01/n...
Maybe Jesse "The Body" Ventura could run against him. At least Jesse wouldn't be caught dead in a speedo. Maybe a feather boa, but no speedos.
Judge MB Shah said: "Government employees have no fundamental, legal, moral or equitable right to go on strike." But he conceded that trade unions did have the right to conduct "collective bargaining" on behalf of employees.
The ruling relates to cases arising from a major strike in India's southern state of Tamil Nadu last month as a result of which the state government sacked 176,000 employees. Most of the employees were reinstated after a Supreme Court intervention but only after providing a written apology and pledging not to take part in strikes in the future. The National Secretary of the Centre for Indian Trade Unions, Swadesh Debroy, described the ruling as "a dangerous and cruel attack on our right to strike."
"We are surprised and shocked and anguished about the honourable court's decision…….>
http://news.bbc.co.uk/2/hi/south_as...:-)))
CA Nacional Telefonos de Venezuela, the country's largest telephone company, said it may default on some of its international debt because it can't guarantee that it will receive dollars from the government to make payments.
``Access to foreign exchange is still severely restricted,'' Nacional Telefonos said in a statement. Gustavo Antonetti, the head of investment relations, said the company has to make debt payments of $19.4 million through the end of the year. The company has about $230 million in overall debt, most of it dollar- denominated.
2nd-Quarter Loss
Nacional Telefonos, which had a second-quarter loss of 22.6 billion bolivars ($14.1 million), defaulted in August 1994 on a $30 million loan, three months after former Venezuelan President Rafael Caldera imposed currency restrictions.
Telefonos de Venezuela's Class D shares closed unchanged at 4,500 bolivars ($2.82). The company's ADRs fell 4.6 percent to $12.41 as of the 4 p.m. New York time. Each ADR is equal to seven Class D shares. ………
Verizon Communications Inc. owns 28.9 percent of the company's shares, including the publicly traded Class D stock. Spain's Telefonica SA owns 6.9 percent. The government owns 6.6 percent, and employees own 12 percent. The rest, or about 46 percent, is traded.
http://quote.bloomberg.com/apps/new...
Any opinions on the bonds and ADR's ?
just because you got on our UP Brazil trade last year dosn't change you were WRONG on not selling the she-bond @ 93...
Advice 55 was recommending "FLY" and TCP...now with TCP crashed down and all Brazil down...w/o "FLY"...
accept reality Advice55: you have been a BAD INVESTOR on average...you blew your profits...
just be quite and learn...
The additional credit(=loans) created via refinancing is the difference between the new loan and old loan( what Spal has indicated) .
There is not any money resulting from the refinancing operation to lend to another borrower as the new loan is an incremental loan(in practice).
Ex: If A has a home loan of $ 1 million(amount oustanding) at 5% and the bank agrees to refinance the loan at 3%, but without increasing the loan amount, there in no increase in the credit......The home owner received no cash payment—the old loan is paid back with the new loan(the bank did not receive any funds from this operation to lend to another borrower).
If the bank agrees to refinance to an amount of $1.5 million at 3%(ie to raise the loan to $1.5 million), the home owner pays back the old loan outstanding and would receive a cash of $1/2 million. In effect, the refinancing operation has increased the total loan amount outstaning from $1 million to 1.5 million and does not provide any funds to be lent to another borrower.
Note: 1) i am not passing an opinion on Berner’s article. 2) I never participated in any home refinancing operation or worked in a bank.
.
No, don't have the qualifications. I'm not a weight-lifter, movie-start, multi-billionaire, or a homeless person (all of whom have entered the race or thinking about it). However, I'm seriously considering entering my Goldern Retriever as a candidate. She, of course, is quite liberal as befits a northern californian.
But some are nenjoying! The Pan American games are in progess: started last Sunday. Cost for the country: about 200-300 million dollars( 5 billion pesos). The President told that no protests against the games will be tolerated and the general in charge of security told on television that they will” break the heads and wring the necks”(translations) of any body venturing to demonstrate !
The 10-year bond that matures in 2007 represents more than 40 percent of Mendoza's annual 1.7 billion-peso ($580 million) budget. Mendoza never stopped payments on its about $1 billion in debt, which includes bonds and bank loans, Nieri said.
Argentina defaulted on $95 billion of debt at the end of 2001 and subsequently devalued its currency. Provinces, such as Mendoza, which have dollar-denominated debt and tax revenue in pesos, are seeking to reschedule payments to avert a default.
``It seems complicated that we would be able to roll over this debt in 2007 and we are seeking to spread out the payments over more years,'' Nieri said in a telephone interview.
It's the second time Mendoza has sought bids to reschedule payments for the so-called Aconcagua bonds, named after the highest peak in the Andes. The first attempt, in January last year, was canceled because of ``inopportune conditions,'' Nieri said. >
Good for you....
I just want to see were are your sell Brazil with CBonds at 84 gone take you....
You are calling a sell of Brazil assets at this point right?
ok, let us see, how happy you will be in the next sections....
OVERSOLD LIKE HELL MY FRIEND!
Second, markets are totaly oversold, if you wish to call a sell at these levels, be my guess, but do not expect to make any money on that call, cause you are wrong like a baby trading options and futures....
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