 |
Emerging Markets |
Posted by
BradyNet
(
Monday, September 22, '03
)
| |
|
|
*NEW*
Stay on top of important market events with the IdeaGlobal/BradyNet Economic Calendar
|
 | Argentina gets huge IMF loan 09-22-03 (BBC) The International Monetary Fund has agreed to provide $12.5bn over the next three years to help Argentina out of its economic crisis.
|
| IMF Rebuke Should Accelerate Reform Drive 09-22-03 (Yahoo) The IMF was optimistic about a global economic upturn in its report published Thursday, but remained downbeat about recovery prospects for the euro zone economy and singled out Germany for a zero growth forecast.
|
| Globalization Hits Germanys Oktoberfest 09-22-03 (Yahoo) MUNICH, Germany - The polka bands struck up and beer started flowing at this year's Oktoberfest this weekend, even as the sale of a venerable Bavarian brewer to foreign owners injected tough global realities into the party.
|
| More flexibility in exchange rates "desirable": G7 09-22-03 (Yahoo) DUBAI (AFP) - The Group of Seven (G7) most industrialised nations said that more flexibility in international exchange rates was "desirable."
|
| G7 Presses Asia to Let Its Currencies Rise 09-22-03 (Yahoo) DUBAI (Reuters) - The Group of Seven industrial nations took aim on Saturday at Asian governments that keep a tight grip on their currencies by calling for more exchange rate flexibility to help iron out global economic imbalances.
|
| Stock Rally Downshifts as the Economy Accelerates 09-22-03 (Yahoo) Sept. 19 (Bloomberg) -- While the economic news has looked stronger and stronger lately, the stock market has grown harder to please.
|
| Argentina outlines repayment plan 09-22-03 (BBC) Argentina's government has started talks in Dubai on rescheduling at least $90bn (£55bn) of debt owed to banks and other private sector lenders.
|
| Argentina rejects French Astiz bid 09-22-03 (BBC) An Argentine court has refused a request from Paris for the extradition of a former naval officer whom France has convicted of killing two nuns.
|
| Brazil Wont Send Troops to Help in Iraq 09-22-03 (Yahoo) BRASILIA, Brazil - Brazil has rejected a U.S. request to send peacekeeping troops to Iraq (news - web sites) because of the "difficult" security situation there, Defense Minister Jose Viegas said.
|
| Will OPEC make room at the table for Iraq? 09-22-03 (Yahoo) David DeRosa , president of DeRosa Research & Trading, is an adjunct finance professor at the Yale School of Management and the author of "In Defense of Free Capital Markets." The opinions expressed are his own.
|
| Iraq to Allow Full Foreign Ownership Outside Oil 09-22-03 (Yahoo) DUBAI (Reuters) - U.S.-controlled Iraq (news - web sites) Sunday unveiled sweeping reforms allowing foreign investors into all sectors except oil, ending 30 years of state economic control.
|
| Oil Hits New 4-Month Lows as Isabel Wanes 09-22-03 (Yahoo) LONDON (Reuters) - Oil prices sank to fresh four-month lows on Friday as Hurricane Isabel weakened without causing much damage to U.S. energy infrastructure.
|
| |
Newest messages appear on top.
09-23-03
carib:
Advice: great idea! If the IMF had 20 bill $ of Argy bonds in their books, they would be singing a quite different tune!
09-23-03
moneypenny:
Vally: His only passport is blue and has a GNoE eagle on it. That makes him 100% local. Arnie is more of a foreigner since he has held more than one passport. I dink our argvement iss zzemantic. I agree you are de expert on de Austrian English. But what language iss it dat de Austrians speak? You know de answer. Vee haf vays of makink you dink! :-)))
09-23-03
Advice55:
TCP, looks like making the second doji on the support....Might be the last chance to get in bellow 5 dolares!
Posted
09-23-03
wally:
<Many of the proposed "security countermeasures" unfortunately show low IQ> da capo!
09-23-03
Advice55:
Another vertent of the same debate about IMF Brazil agreement next week is the following:Instead of the IMF giving new money for brazil at lower than market rates, it just buys Brazil bonds at the market and stays with that bonds in portfolio, soo at the end of the day, instead of having in position a debt with brazil with lower rates, IMF will have a det with Brazil with higher rates in portfolio....
The idea is currently being descussed with the IMF, and it looks like it makes sence, for the IMF and for Brazil....
Opinions?
09-23-03
Patient-Trader:
Carib, <can someone post a chart with gold price in Euros in the last couple of years? > Click on the chart symbol next to the gold price http://www.thebulliondesk.com/defau... data goes only a year back in euros.
09-23-03
carib:
Manya: good point. Maybe a deterrent for ladrones would be an international agreement after which Argentine teams will be only allowed to field 25% of their players, and every one of their goals will only count as a quarter of a point...
09-23-03
carib:
Wally: interesting point about <Big Brother>. IMHO terrorists are well aware of security regulations and changes to them, and if the Us thinks buying a one way plane ticket paying cash is a sign of potential terrorism, terrorists will buy return tickets using Visacards even if they intend to perform a suicide attack. Many of the proposed "security countermeasures" unfortunately show low IQ.
Maybe they should hire the Mossad in consulting capacity. Cheaper and more effective.
Question is: do they want effective counter-terrorism war, or just a state of fear and tension?
09-23-03
wally:
<Ach vell, the real reason ve vant de Arnie is to speak like de Tschermanns! :-)))> one of these days i'll call you <MoneyPenny> and you will hear authentic austrian english which is completely different from tchermann english. in this respect i am a real expert!
09-23-03
wally:
<Every goal against an Argentine team will count for only 0.25 after the 75% haircut is applied>hahahahahahahahaha!
09-23-03
wally:
FAUX News on <not a drop of latin blood>:<California Lt. Gov. Cruz Bustamante, <<<the grandson of Mexican immigrants>>> who counts improving race relations among his biggest pursuits, refused Thursday to renounce his past ties to a little-known Hispanic organization considered by critics to be as racist as the Ku Klux Klan.<
http://www.foxnews.com/story/0,2933...
09-23-03
manya:
New Development on Argy : According to the Argentine Ministry of Finance here is the new formula to determine who win the soccer matches involving an Argentine team (Club or national)
Every goal against an Argentine team will count for only 0.25 after the 75% haircut is applied. For example, if River scores 1 goal, Real Madrid has to score at least 4 goals in order to even the match (8 goals if River scores 2)Courtesy of International Soccer Analyst F.A.
09-23-03
wally:
<lots uff de jobs, verk, verk, verk, arbeit, arbeit, arbeit, und no complainink!> zat iss of korse ze right approtch for Kaaaahlifoahrnia bekaus de Kaahlifoaahniaans alvays komplain for nozzing alldough dey haff der biutifull klima oond all der tekno kompanies wid tchobs oond beeg money.
09-23-03
wally:
<He hasn't got a drop of Latin American blood in him> i heard him two days ago saying <"my parents who came from Mexico...">. of course if you don't count Mexico as Latin America you are right :~))
09-23-03
moneypenny:
Vally: <kann yew really troost him widd all de backgroond and so on?> Vat if his background is Austrian Economic School? Den vat vill ve do? Ve will haf to get used to a vrie-market regime, low prices, low state debt, stable currency, lots uff de jobs, verk, verk, verk, arbeit, arbeit, arbeit, und no complainink!
09-23-03
moneypenny:
Vally, your Tscherman precision is getting a little ragged. Your facts are wretched. Cruz Bustamante, the Latin-American-Idiot (in the Alvaro Vargas-Llosa sense) was born in Dinuba, California. He hasn't got a drop of Latin American blood in him. He is purely a local creature, strictly a local nightmare. It is his IDEAS that are 'Latin-American-Idiot.' You must read this book Carib recommended to me, called 'Guide To the Perfect Latin American Idiot,' by Plinio Apuleyo Mendoza, Carlos Alberto Montaner, and Alvaro Vargas Llosa for the full description of the identifiable type. Cruz Bustamante is of this identifiable type.
Ach vell, the real reason ve vant de Arnie is to speak like de Tschermanns! :-)))
09-23-03
wally:
Big Brother is watching you:
http://www.nytimes.com/2003/09/22/b...
09-23-03
wally:
<Ve don't want the Latin American Idiot> that sounds quite high and mighty <moneyPenny>. Bustamante is an American although born in Mejico. of course you have all the right to reject him as everybody knows that your family arrived with the "Mayflower" and immediately intermarried with native Americans. isn't it?
09-23-03
wally:
<moneypenny: Vally: <will you vote for Aaaaanold?> Ja. Ve like da Aaaaanie>boot haff yew takken into der konsiderashun zat ze vather of Aaaanold vas a bad Nazi Schtormtruper? vhat iff Aaaanold has inherited die bad tchenetiks from him? kann yew really troost him widd all de backgroond and so on?
09-23-03
Advice55:
You think Brazil is not good enough at 650 over?Well, than you will be glad to sell your remaining bonds to big squid, after the IMF agreement and go to ARGY were spreads are 2000 over, but they do not pay the copoms....
Regards
09-23-03
moneypenny:
Wear them down, wear them down, down, down....http://reuters.com/financeNewsArtic...
<Argentina says no set time limit for bond-swap talks>
09-23-03
panasonic:
<Amateur: <Jackie: <Pana, Spal, Carib,ITWO ... > > I couldn't let you alone so I'm in with 5k at 1,40> SPAL-fans are in :-)
09-23-03
moneypenny:
Vally: <will you vote for Aaaaanold?> Ja. Ve like da Aaaaanie. Ve don't want the Latin American Idiot/Populist/Dashboard Bobblehead, who thinks taxing the rich and punishing the oil companies is the way to get California out of its economic Argentina. Arnie vill take care of de tings.Hasta La Beasta, babeee!
09-23-03
wally:
reducing Brazil exposure was an excellent call from <cheetah>!
09-23-03
Advice55:
Savo, if you wish to hold a little more, you will probably be selling it to big squid next week...
09-23-03
Advice55:
Telephone rang here...
There is a guy on the other line asking me what I think if Brazil gets an agreement with IMF were, all the aditional money we get, goes for the repurshase of external debt.
Once IMF rates are a little more friendly, we could get IMF money and buy back external debt in the market, cause external accounts look good.
What do you think?
Is that already priced in?
What would happen to Brazil prices if that is the news next week?
09-23-03
carib:
BTW: schweinkramm...any GX prices today?
09-23-03
carib:
Saudi Arabia - Saudi security forces raided a farm in the kingdom's south on Tuesday, setting off a running gunbattle that ended with a standoff at a hospital involving foreign hostages, security officials and Arab media reported. The Saudi officials said an unknown number of suspects escaped the raid on the farm near Jizan, about 960km south of the Saudi capital, Riyadh, and took refuge in the hospital, taking a number of hostages.
The officials, who said the standoff continued at mid afternoon, hours after the early morning raid, did not say why the suspects had been initially sought.
09-23-03
Amateur:
<Jackie: <Pana, Spal, Carib,ITWO ... > > I couldn't let you alone so I'm in with 5k at 1,40.
09-23-03
carib:
Wally: <gold chart> thanks, but UBS has it. scroll a bit down.
09-23-03
carib:
Oh, dear!
<OSLO. Statoil's chief executive, Olav Fjell, resigned on Tuesday, the third top manager to leave the company, Norway's biggest oil producer, since the police began investigating charges that it had paid bribes to gain business in Iran.>
even in NORWAY!
.
09-23-03
wally:
<I agree 100% that this was not a real proposal--it was just a symbolic gesture, made with the middle finger of the right hand> INDEED! :~)))
09-23-03
wally:
<A federal appeals court Tuesday reinstated California's Oct. 7 gubernatorial recall election, rejecting a three-judge panel's decision to put it off for months and handing a defeat to supporters of Gov. Gray Davis. Unless the U.S. Supreme Court steps in quickly, the decision means Election Day is two weeks away.<<<>>>><MoneyPenny> will you vote for Aaaaanold?
09-23-03
wally:
<can someone post a chart with gold price in Euros in the last couple of years?> i had an excellent website for this but nowadays only FOREX is available.
09-23-03
moneypenny:
Ladron courts in fine form this morning in California:<Recall Date Reinstated>
http://www.sfgate.com/cgi-bin/artic...
09-23-03
drjbg:
GLUTT: <<IMHO once virginity lost it cannot be obtained [re: Swiss bank secrecy>>Apparently the Swiss have some jiffy surgeon gynocologists.
I don't have a clue what you are saying about NVP... apparently you believe that WSJ journalists would be smart enough to distinguish "nominal" from NVP. That's not the point IMO. The point is that (apparently) THE FIGURES DON'T ADD UP if you assume nominal cuts:
How is it possible for 1/3 of proposed options to have "little or no haircut", and yet the total nominal haircut is 75%? That means 2 of the other three proposals would have to have MUCH greater than 75% nominal cut--which is absurd. Of course, when talking about an Alice in Wonderland (or Alice in Argentinaland), it's silly to talk about logic. I agree 100% that this was not a real proposal--it was just a symbolic gesture, made with the middle finger of the right hand.
09-23-03
amigo latino:
Is it a proposal what Lagna presented in Dubai yesterday? I think it is not complete proposal (lacking in details like coupon rates, maturity dates, etc)? I <assume> it to be an outline of what Argy is going to offer in substance : a NPV of 25% of principal- and- interest accumulated up to the deafualt date ( haircut of 75% of principal and interest accumulated upto the day of default, implying an additional haircut of PDI from the default date ) . The details and the menu of options will come at a latter stage. But the point is that any option of the bond selected by the creditor will have NPV of 25%.
In effect , the offer in substance is there for the bondholders to think about.
09-23-03
carib:
Got the chart.
http://quotes.ubs.com/quotes/X0=9/X...
not as bad as I thought, after all...
09-23-03
wally:
the Dubai effect on D€ntists:
http://isht.comdirect.de/html/searc...
09-23-03
carib:
Golbug must feel better with Gold @ 385$.
But can someone post a chart with gold price in Euros in the last couple of years?
09-23-03
wally:
<glut <lets discuss something else...what about Patagonia penguins?>> do you remember <El General> and his FRBs? :~)))
09-23-03
carib:
Jackie: on ITWO, in @1,365. Crossing fingers.
The good thing about SPAL Schtoks is that some go up dramatically, others at least do not go down. So far, so good.
09-23-03
savonarola:
advice..
where should I be selling my remaining 30s?
09-23-03
Glutt:
Advice, i trust you but i do not buy Brazil today… on the rest, come on, no hard feelings. Good look? Ok, i need good luck, look for you… hehehe
09-23-03
Jackie:
<Pana, Spal, Carib,ITWO ... > Placed order yesterday and am in at 1.57. Order was executed early today. So much for timing but we shall see.
09-23-03
Advice55:
Glutt, I already said, be prepared for good news in Brazil this week, fiscal reform goes through tomorrow and will pass....The telecom issue, that was the esquse for a sellof last week will also be resolved this week....
There just are good news on the pipline for Brazil, I am affraid!
09-23-03
moneypenny:
Carib: <The idea that defaulting on public debt is a clever way to make the nation prosper and foreigners suffer is the product of a masochist mind with low IQ.> What a flawless statement. I am sending it to my favorite guru. This argument grasps the real issue and needs to be understood. Awesome. Egggggregio maestro!
Index of older articles by date
*NEW* Historical archive from 1998-1999
Please read our disclaimer.
Home Page |
BradyNet Pro |
Search |
CyberExchange
Forfaiting |
Closing Prices |
Live Prices |
New Issues |
Ratings
BradyNet Tour |
BradyNet FORUMs |
BradyNet Email Directory |
Index (Site Map)
Analysis & Research |
BradyNet Center |
News |
Jobs
General Correspondence: bradynet@bradynet.com
Questions/Problems? support@bradynet.com
This site copyright © 1995-2000 BradyNet.com
