Color of the Market Archive, Page #12
Color of the Market A R C H I V E 

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The Color of the Market has been an online meeting place for people interested in emerging market debt since 1996, and has undergone many changes in that time. We have discovered an old archive of Color of the Market messages, covering 5 months starting in late 1998. For the benefit of both old and new Bradynetters, we present this archive untouched.

Note: Back in these days, the forum software was greatly different than the Color of the Market that we are now accustomed to. Without the requirement of registration, the forum began to attract disrupters who would engage in vulgarities, name-calling, impersonation of users, and other childish hijinks. But if you can wade through the nonsense, some of the comments herein are historic, and prophetic.

Enjoy,
IDEAGlobal/BradyNet Staff

Sun Mar 14 06:59:09 EST 1999
wally: if yeltsin makes primakov just going, that's fine with me and i think with all of us. i also agree that together with yavlinski they make a good team. however, after what we have experienced with yeltsin in 1998 one has to be prepared that again "vodka" politics can happen. pakistan must refuse to restructure euros otherwise they will cut their own throats concerning future foreign investment which they badly need. besides, they still have some time. coupon due in june is peanuts (usd 12.5 mio). principal including final coupon is due dec 99.
Sun Mar 14 09:03:45 EST 1999
Cheetah: Wally, lots of crossover problems from different sectors, which Chavez is not confronting, private property invasions is one of them... his reaction has been a very negative lukeworm... he missed his momentum and from now on his popularity will drop dramatically, any problems are his fault and not Caldera's from now on... I believe upside is now in equities (EDC, CANTV, SIVENSA) - adequate risk-reward, and thats what I did: sold most of my Veni bonds bot some equity and some MEX corps (INNOVA)
Sun Mar 14 09:17:30 EST 1999
wally: i am not a vennie expert. all what i know there are many problems to addressed. we cannot expect miracles from chavez. at least let's give him the famous '100 days' before we (or the market) judge him.
Sun Mar 14 17:51:14 EST 1999
Cheetah: Uptick in Veni bonds from short covering (maybe spanky followers) and gov. agency purchases... Local interest rates MUST come down and the Bolivar MUST slide quickly... if not... domestic problems will surpass Chavez's good intentions (?) and may push Veni into an autocratic state... situation more complex than Cuba was in 1959 - 60.
Sun Mar 14 18:21:14 EST 1999
anonymous: Cheat-DAH: You have finally come around to my view on Vennie. I always had faith in you, CHEAT-Dah. But when did the markets ever react to fundamentals. In fact, define to me fundamentals, CHEAT-DAH.. Of course, you have never lost money on a trade, CHEAT-DAH.. I really wanna know how after you said you have sold everything and the market is flying, you still have a job, CHEAT-DAH!! You must work for the Swiss, No? Luv ya, Spanky...
Sun Mar 14 21:09:23 EST 1999
Cheetah: My darling GIRL Spanky, just review the timing AND detail of my comments - I don't like to BS >>> I talk my "BOOK"... why do you get annoyed if I have been right since November ??? We all know how wrong you have been ! Your friend always, Cheat-DAH... (glad to be in your line of thought now on Vennie - now)
Sun Mar 14 21:12:40 EST 1999
Cheetah: Just do it ! Spank my darling BUY some Veni Equities BUY Sivensa at 18.50 Bs., EDC at 185 Bs. don't cry later !!! (both have ADR's, otc and 1USD is 580 Bs.)... for the record
Sun Mar 14 21:25:45 EST 1999
anonymous: Vili caro emere, et vultis vendere, Cheat-dah!
Sun Mar 14 23:05:13 EST 1999
anonymous: adreim emoc narg nu sere ! gnilrad ym
Mon Mar 15 06:26:42 EST 1999
anonymous: Friends. Do you really think that now Russia need one more tale-taller such as Yavlinskij ( after Kirienko and Nemzov)? Do you think that he have the big difference with Kirienko? It's a news for me that he is popular on the West. If he will be appointed in Government we will have a new political unstability here in Russia, because a lot of Russians think that Yavlinskij is good only in Parliment as a critic of everybody in everything. I'm bullish about Russia but not only in this scenario.
Mon Mar 15 08:57:27 EST 1999
wally: yavlinsky has one big advantage in the eyes of washington that counts, he is an outspoken non-communist. whether he is different from the cheat kiriyenko is an open question. what counts is what washington is thinking.
Mon Mar 15 11:52:33 EST 1999
anonymous: Republic of Costa Rica (Ministry of Finance). US$300 million. Euro/144A. 7-10 years (to be defined). Ba1/BB. Managers: CSFB, JP Morgan, DMG, Chase and Salomon Smith Barney (lead manager to be defined on March,25). +400/600 bp. Pricing date: on May, 25.
Mon Mar 15 15:46:46 EST 1999
La Cueca: What's going on in Ecuador? Are the banks still running?
Mon Mar 15 16:07:54 EST 1999
anonymous: today Ecuadorian banks open again after 1 week bank holiday declare by the gouverment. Anybody know it went today?
Mon Mar 15 16:08:03 EST 1999
anonymous: today Ecuadorian banks open again after 1 week bank holiday declare by the gouverment. Anybody know how it went today?
Mon Mar 15 16:12:36 EST 1999
anonymous: The Ec PAR & PDI bonds closed down 1.25 and 1 respectively, Ec'02 closed up 1.5 points. Mixed day in the market for Ec.
Mon Mar 15 18:17:27 EST 1999
anonymous: Some of the best corporate bond BARGAINS are issues advised by that shadowy, suspicious, convicted felon bank that is of course Bankers noTrust, does anyone have a list ????
Mon Mar 15 22:37:14 EST 1999
anonymous: Yavlinsky to named 1st deputy very shortly. Chernomyrdian advisor to Primokov on IMF negotiations. Smells like things turning.
Mon Mar 15 22:48:37 EST 1999
anonymous: MOSCOW, March 15 (Reuters) - Russia's central bank said on Monday that it had formed a new committee with members from international and domestic financial institutions to help it restructure the country's battered banking system. It said in a statement that the committee, known as MKK in Russian, would include officials from the government, the central bank, the upper and lower houses of parliament, the presidential administration and from the IMF, EBRD and World Bank.
Mon Mar 15 23:56:19 EST 1999
anonymous: CSFB has now proposed setting up a fund that would hold defaulted Russian rouble securities at face value and swap them for investments in project financing and in companies in Russia, particularly in the commoditites sector. To be called the Nikitsky Recovery Fund, the investment vehicle would be launched only when it it had at least 40 billion roubles worth of securities, Ipkendanz said.
Mon Mar 15 23:57:19 EST 1999
Peter: Instead of taking a haircut (loss), as Deutche has done, CSFB is trying to salvage some value.
Tue Mar 16 00:01:04 EST 1999
anonymous: Alex Kudos !! " Ukraine's central bank chief said on Monday that the country would be able meet its interest payment on a 500 million euro Eurobond due on March 17. "Ukraine definitely answers for servicing this payment,"
Tue Mar 16 00:23:02 EST 1999
DR. Reitmeier, Vienna: Russian Bonds - big spreads - banks make a fortune. Where can we buy lines of 1 Mio Nom value (US $). Who knows banks, who deal with individuals on reasonable terms. We are interested in 2001, 2003, 2005, 2007, 2018 and 2028. We would also be prepared to absorb Moskau and Mosenergo 2002. All in 1 Mio $ lots. Who can help and make a contact with sellers?
Tue Mar 16 02:35:54 EST 1999
anonymous: The complete European Commission has resigned.
Tue Mar 16 02:47:40 EST 1999
optimist: Dear Bradynetters, recent rumours on Yavlinski nomination for government position are really justified by anything but Yavlinski's stance. This arrogant, obstinate person would very hardly agree for any position but PM's. But impartial observer cannot even suppose eltsin will hand him such powers... I would rather imagine some new official post may be established for personalia like Yavlinski. Secondly, if Yavlinski ever gets position in today's government, the communist buzz will turn into serious social unrest. Governemnt will lose credit from Parliament Both washington and kremlin understand these controvercies...
Tue Mar 16 07:19:09 EST 1999
wally: optimist: how strong is yavlinky's party (in numbers) in the duma?
Tue Mar 16 08:39:16 EST 1999
anonymous: The governor of the Russian state of Cauntdraka, Mr Romanoff has declared moratorium on it's internal and external debt ? Is this rumor or fact ???
Tue Mar 16 10:25:29 EST 1999
anonymous: It looks like credit is coming back to Latam. Even the WSJ had an article about it today. Is this the beginning of the end of the crisis? NYTrader
Tue Mar 16 10:59:57 EST 1999
anonymous: NYTrader: It looks like it. ABN Brasil issued $100mil and some other banks are looking into issuing some short term debt as well. I think Brazil has bottomed out.
Tue Mar 16 11:14:58 EST 1999
anonymous: NYTrader & Anonimous: I agree with you 2....and the bset part is that Argentina doesn't go in crisis with Brazil. Regards, Shon Ka
Tue Mar 16 11:20:57 EST 1999
optimist: Wally: "apple" - yavlinsky's party shares 3 and 4 th position at parliament. Around 13% of votes. They often are a bargaining chip.
Tue Mar 16 12:04:46 EST 1999
anonymous: Republic of Costa Rica (Ministry of Finance).US$300 million. Euro/144A. 7-10 years (to be defined). Ba1/BB. Managers: CSFB, JP Morgan, DMG,Chase and Salomon Smith Barney (lead manager to be defined on March,25).+500/700 bp. Launch date: on May, 25. Scarcity value (bonds outstanding: US$200 million (Euro/144A, due april 2003) and US$670 million Brady bonds.
Tue Mar 16 12:09:32 EST 1999
OOOOOH: a
Tue Mar 16 12:09:57 EST 1999
OOOOOH: Aaaaa
Tue Mar 16 12:49:02 EST 1999
anonymous: Russian gov't is ignoring CSFB's proposal!
Tue Mar 16 13:15:20 EST 1999
anonymous: I have a new proposal for Russians. Prepay the Russian Globals at par. Or better yet, redeem Prins at a premium. CSFB lives in LaLa land. Take your licks and move on.
Tue Mar 16 13:19:57 EST 1999
peter: Russia had agreed to consider the bank's alternative plan for restructuring defaulted rouble debt if enough investors and banks said they were interested
Tue Mar 16 14:16:54 EST 1999
anonymous: where is the state of Cauntdraka ?? what did they default on ?? Anastasa
Tue Mar 16 14:22:23 EST 1999
the view from DC (unpourtous: Republican front runner Bush described himself as "Mexico's best friend north of the border" in a recent speech to a gathering in Mexico (sorry I can't find the link). Bush received 50% of the hispanic vote in his latest bid for governor of texas which is a huge percentage for a GOP candidate. Now if he would just extend that thought to other EM's....
Tue Mar 16 17:26:18 EST 1999
The Moscow stalker: Living in Russia too long will do strange things to a mans head. The CSFB team, having been unspeakably arrogant while they were making billions (half of which they took home in bonus) are now so far divorced from reality that they can announce that, while there scheme has not been accepted by anyone, it has been "approved" by the government (which government? Zadornov? Masylukov? Kasyanov? Yeltsin's dog?)...for chrissake, in a country where a signed contract ain worth much, "approval" by an unnamed apparachnik is massively reassuring...of course, after leading their clients to the slaughter, they stand to make 25% off the top! YOURS!
Tue Mar 16 18:00:24 EST 1999
anonymous: CSFB -- C(an) S(omebody) F(ind) B(rains)?
Tue Mar 16 21:14:37 EST 1999
anonymous: Hillary must be SHORT gold futures !!!!
Tue Mar 16 21:15:46 EST 1999
anonymous: or maybe Billy Bob learned his cattle futures....
Wed Mar 17 00:05:11 EST 1999
anonymous: Russian globals have started their 10-20 point rally.
Wed Mar 17 04:14:08 EST 1999
Omar: Kudos to Alex for being the Ukraine faith keeper !!! "WASHINGTON, March 16 (Reuters) - The International Monetary Fund, pleased at Ukraine's progress on fiscal and structural reform, said on Tuesday it was ready to recommend resuming a stalled lending program."
Wed Mar 17 06:50:45 EST 1999
anonymous: perhaps i need new glasses. i am trying hard to find the russian rally..? without success. quiet watcher.
Wed Mar 17 08:52:14 EST 1999
HEAVY: No Russian rally to speak of. 05s down 1/4, 18s up 0.5, IANS off 1/4. But will somebody tell me why MinFin3s insist on trading at 37.0 cents. I don't believe in this story that Russian Treasury will accept them towards tax arrears, so locals are buying them up...?
Wed Mar 17 09:22:55 EST 1999
Puma: Although I am not an expert in Russia let me point out: 1) Buyback rumors have been going on for too long so maybe something might be happening 2) PM is putting some order in place, sine qua non condition for anything in Russia 3) IMF will end up signing an agreement in the next few weeks 4) Current Account surplus will increase reserves in the short future. Or maybe they are hiding some reserves increase to improve their bargaining power. All in all I think that holding some Russian paper is a good idea.
Wed Mar 17 09:29:11 EST 1999
JMC: Puma, you might be right, holding some Russian Euro paper may be a good idea. I continue to believe that these guys are not going to give us any real repayment and would steer well clear of prins, minfins etc. I am a little interested in your opinion that politically things are getting better. I dont see any real political stability yet and as for them returning some of their STOLEN reserves. well I wouldn't hold your breath.
Wed Mar 17 09:39:21 EST 1999
Heavy: Puma, one thing. Even should the IMF sign some kind of deal in the next few weeks (which is bullish considering the Duma's resistance to any delay of VAT cut), it would very likely only a monitoring agreement without any credits. Plus the current IMF "mission" in Moscow is not a mission at all but rather a "soft" negotiating team without any "hard" powers of concluding an agreement. We'll have to hope that Primakov (not too au courant on economics) has a breakthrough with Camdessus and Clinton during his visit to D.C. on March 23rd, but I wouldn't count on it. Finally even if they do eventually get a real standby arrangement, the credits would only be enough (or slightly less than) what they need to rollover the $4.8bn they owe the IMF this year.
Wed Mar 17 09:52:14 EST 1999
Puma: I will try be brief. I think that Yeltsin has proved that he has never had a long term strategy, so his government has been chaotic to say the least. He has fired anyone that has become too popular (Chernomyrdin for instance) or anyone that forgot that he (Yeltsin) was in charge (Lebed for instance). All this without considering the consequences. So the place became a chaos. Some order is needed. Yeltsin's health and intelectual faculties have deteriorated and there is some empty space in the political arena that Primakov is slowly filling without making Yeltsin mad at him. (to be continued)
Wed Mar 17 10:02:03 EST 1999
Puma: Primakov is going against some of the most evil forces in Russia (the new commercial bankers,and some of the crime lords) He is in charge in the day to day and he has a strategy (which is better than no strategy). We may not like the fact that he is not considered a reformist and that he may go a step back in the reform process, but he is clearly in favor of order. His political power will come from the people if he stabilizes the economy. It remains to be seen how he will resist or neutralize an outburst from Yeltsin which may come if he sees his minister getting too strong. But on the other side Yeltsin and his small circle of associates may want to cut a deal with someone so that they are protected (not prosecuted) when someone else gets in charge. That someone could be Primakov.
Wed Mar 17 10:05:51 EST 1999
heavy: I guess Primakov, the former head of the KGB, knows a thing or two about evil forces
Wed Mar 17 10:24:28 EST 1999
optimist: with the reference to minfin 3 mat 5/14/99... Market is heavily short this paper. I know a guy whos nearly 150mm short since sweet 1997. B4 maturity short positions m u s t be squared. abundant shorts and more then 50% of the issue bought back will inevitably lead to the rally at least to 70%. I personally played this card investing 5pct of the assets in tr3. as you understand even reduction of this holding to zero will be compensated by earnings on other fxd income positions
Wed Mar 17 10:37:21 EST 1999
anonymous: 03-17-99 HEAVY: (194.36.20.11) No Russian rally to speak of. 05s down 1/4, 18s up 0.5, IANS off 1/4>> O.K., you win they are going to zero..
Wed Mar 17 11:30:05 EST 1999
anonymous: latest victim........tvfilme..........owners/mgt saying they dont know if if they can pay the next coupon......eventhough they have usd46.0mm in cash, also saying saying they dont know if it is a viable business going forward.....recently de listed from the nasdaq as a result of not meeting ratios and disclosure of information.....seems to be that mgt is not acting in good faith.....if it does default, it will be the first brazilian corporate to do so in over three years....what will this event do to the rest of the brazilian corp mkt and sovgn market?
Wed Mar 17 11:45:42 EST 1999
Kraus: Gentlemen, with all due respects, if you could all take a short break from the (thrilling) IMF watch to have a look at Oil prices, you might get a clue as to where the next capital inflow into Russia is gonna come from...Brent Futures have rallied more than 40% from the lows of late December, and >35% from Feb 15 (source: Bloomy)
Wed Mar 17 11:52:50 EST 1999
Heavy: Statistic of the Day: Russia has the highest oil production cost (including exploration and development) on the planet at $14 per barrel, vs. $2 for the Gulph, $6 for Indonesia, $7 for Nigeria, $7 for Vene, about $9ish for Mexico, and $10 for the US. Not to take away from the oil rally, but how long will it take before we discover it's unenforceable, and unenforced. Vene has a laughable track record in implementation.
Wed Mar 17 13:04:41 EST 1999
anonymous: can anyone provide best estimates/proyections(or guestimates) on the level of the embi between now and year end on a quartely basi......
Wed Mar 17 13:08:39 EST 1999
light: sorry but Veni's cost is $4-5 ...
Wed Mar 17 13:47:38 EST 1999
Puma: Dear Kraus, great point. Dear Heavy, I do not know where you got your production costs but venny and Russia are wrong. Best regards.
Wed Mar 17 16:14:31 EST 1999
anonymous: Ukraine's Eurobonds jumped around 10 points in London trading on Wednesday after the government announced it had paid 73.75 million euros of interest due on a euro-denominated Eurobond.
Wed Mar 17 18:23:01 EST 1999
anonymous: 03-17-99 Anonymous: Ukraine's Eurobonds jumped around 10 points in London trading on Wednesday after<<<<< Russia globals set do the same. Top performing equity market in the world this year: RUSSIA.. Top performing bond market this year: Turkey 17%, followed by RUSSIA at 16%.. Let the street contiue to underweight!!!!
Wed Mar 17 21:34:09 EST 1999
wally: heavy: i was trying to verify your production cost. i don't know where your figures come from but some are nonsense. e.g. gulf cost (saudi arabia and emirates) are usd 6.50 to 8.00 depending on location. according to ARAMCO statistics the cost of usd 2.00 was in 1969. we now write 1999. dubai government sources state production cost at usd 7.00-7.75 also depending what field. abu dhabi states 6.75 -7.50. oman official info states 7.00. iran publishes 8.75 offshore and 7.25 onshore. i have no info concerning russia.
Wed Mar 17 23:18:45 EST 1999
anonymous: Thank God for Wally on this site. The man does his homework and shines the light on fraud. Luv him, Spanky.
Wed Mar 17 23:36:12 EST 1999
anonymous: Imagine the leap Moscow city Eurobond will take when they pay their coupons.They are the best deal in Russia right now.
Thu Mar 18 06:07:22 EST 1999
anonymous: test
Thu Mar 18 07:05:46 EST 1999
JMC: According to Bloomberg Zadornov has ordered the central bank to use its reserves to pay the $167m in payments due in March.
Thu Mar 18 10:48:51 EST 1999
anonymous: The WSJ reported that Russia's CB has a secret offshore account. Why lend to a gvt. that hides the $ from themselves!! Gorby
Thu Mar 18 10:52:22 EST 1999
Cciano: Waters are calming down in Ecuador.Ecuadorian oil price from $8,3 up to $10,2. Agreement between gvt.and main parties to stop blockades. Let's clip in april.
Thu Mar 18 10:52:56 EST 1999
anonymous: Anyone interested in discussing the C? It looks like it is running out of steam. 60-61 resistance and will trade in that range until good/bed news break out. NYTrader
Thu Mar 18 10:54:22 EST 1999
anonymous: The C bond will test 50 again.
Thu Mar 18 11:02:30 EST 1999
anonymous: sure........and coffe will go to usd200.00
Thu Mar 18 11:31:03 EST 1999
anonymous: and pigs will fly. quiet watcher.
Thu Mar 18 11:39:30 EST 1999
anonymous: Russia's CenBank offshore account is a positive, dingbat! That means the Russians have more reserves that reported. The secret account is not a personal stash for some corrupt Cen Bank official. They created it to hide reserves so creditors wouldn't kick and scream as their reserves.
Thu Mar 18 11:39:46 EST 1999
anonymous: Russia's CenBank offshore account is a positive, dingbat! That means the Russians have more reserves that reported. The secret account is not a personal stash for some corrupt Cen Bank official. They created it to hide reserves so creditors wouldn't kick and scream as their reserves.
Thu Mar 18 12:08:57 EST 1999
anonymous: Hey Wally, If it is true the Russian have an extra US$4.5 Bn in a secret offhsore account, it is very positve. US$4.5 Bn is 4 years of coupie on the globals.. Wok and woll, as my Japanese friends say!!!
Thu Mar 18 13:28:35 EST 1999
anonymous: I am amazed how interesting this site became again. The intersts on the DM bonds due in the last days of march seem to get paid, at least I didn't hear anything else.
Thu Mar 18 13:35:54 EST 1999
anonymous: Cciano: I think Ecuador PDI is the best buy right now. Yield is 25% and Ecuador total debt is very small that IMF and other friends can easy bail out. Regards, Shon Ka
Thu Mar 18 13:36:25 EST 1999
anonymous: you should never give in, friend. maybe happier days are just around the corner. i.e. March 24th.
Thu Mar 18 14:09:45 EST 1999
anonymous: Russia globals almost mid-way on the 10 point rally.. expect to see some panic buying in the next few dayz...
Thu Mar 18 14:26:36 EST 1999
anonymous: Forget about C Bonds buy TBH. Global allocators moving into Brazilian equities and TBH could see 90 by the end of the month.
Thu Mar 18 14:37:09 EST 1999
anonymous: Buy Cs?? NO WAY. It is a short or at most a neutral position until it breaks one way or the other, Pele
Thu Mar 18 14:50:02 EST 1999
anonymous: What's a TBH?
Thu Mar 18 14:52:45 EST 1999
anonymous: http://quote.yahoo.com/q?d=t&s=TBH rgds.Charles Watson
Thu Mar 18 15:09:07 EST 1999
anonymous: Thanks!
Thu Mar 18 16:16:35 EST 1999
anonymous: Argy Par vs. Mex Par spread diff. has turned positive and rising. Definite trend since early December. M. Correa
Thu Mar 18 16:37:04 EST 1999
anonymous: If you don't now what TBH is you do not deserve to belong. Telebras Holding - previously TBR _ Telebras. Last year the highest volume ADR in the NYSE. FYI Luv ya
Thu Mar 18 16:54:15 EST 1999
wally: luv ya: (spanky?alex?) please more tolerance for people who don't know THB. not everybody is in shares and this a forum for bonds.
Thu Mar 18 18:00:31 EST 1999
anonymous: ok veni got it's loan from the idb, the FIV and BIV will buy some more bonds (DCB) after that SHORT SHORT SHORT !!! Invasions of private property making ground as Chavez sits back and plays with Colombias international image >> "Cubanization Democratica" of Venezuela >> wake up traders Russia has less risk and more upside !! Sorry Veni fans ... EL ORACULO
Thu Mar 18 20:19:37 EST 1999
anonymous: the short, short, shorts were not very successful this year. quiet trader.
Thu Mar 18 21:22:43 EST 1999
anonymous: Hello silent trader, we have been LONG and continue to be so, the exception is now Venezuela since the ambigous government reaction to massive private property invasions and the serious diplomatic flap with Colombia, both actions by the Government will have serious economic consecuences - EL QUE TENGA OJOS QUE VEA.... El Oraculo
Fri Mar 19 01:17:31 EST 1999
anonymous: I remember having seen someone short with a 30 handle in Brazil C-Bonds early this year.Was some kind of prophet,I guess.rgds.Charles Watson
Fri Mar 19 01:18:52 EST 1999
anonymous: Tried to be some prophet,I guess!!! rgds.Fred
Fri Mar 19 03:31:12 EST 1999
Cojonciano: The biggest problem for all these prophets comes up when they have to face the fact they were completely WRONG. If they would have to live the consequences having spent their own money on their prophecies, no problem, they would simply perish and disappear, but as some "prophet" is paid as a journalist e.g., they go on and on and on... proving our patience.
Fri Mar 19 06:40:13 EST 1999
wally: there was however a prophet last year in march who precisely predicted in this forum a huge big crisis to come in late summer 1998 (if i am not mistaken his name was fischer). his decision was to sell everything and sit on a pile of cash till end 1998. now he really must sitting on a huge pile of bonds a n d cash.
Fri Mar 19 09:57:21 EST 1999
Great Bull: The buy of the century... Russia prins. Whether you want to believe it or not... the government has bought back a lot of paper already... For them it is easier to buy it back at this levels than to get a 50% forgiveness. Don't be wrong be long.
Fri Mar 19 10:06:20 EST 1999
anonymous: El Oraculo: I agree Chavez is do somethings in not very democratic way, but he is the best hope Venezuela has in the last 40 years. The private invasions are from rich people that have stolen from the treasury for years! Regards, Shon Ka.
Fri Mar 19 10:08:18 EST 1999
Ron: G. Bull were dod you get this info from?
Fri Mar 19 10:36:49 EST 1999
anonymous: shon ka: well explained. quiet trader.
Fri Mar 19 10:38:06 EST 1999
anonymous: great bull believes in fairy tales. quiet trader.
Fri Mar 19 10:44:34 EST 1999
anonymous: another Russia default.....MGTSRU
Fri Mar 19 10:53:29 EST 1999
anonymous: I guess quiet trader is right! rgds.Charles Watson
Fri Mar 19 10:56:37 EST 1999
anonymous: Moscow City Telephone coupon payment due today. Anyone have confirmed reports??
Fri Mar 19 11:01:07 EST 1999
anonymous: Moscow City Tel, is in default,they did not pay,however they have a five day grace period. Company spokesperson declared today that they did not know wether they wanted to pay or not
Fri Mar 19 11:27:12 EST 1999
anonymous: Fellow Russian speculators and investors: If you hold Russian globals, consider yourself a senior secured creditor. Therefore these defaults on MinFins and private sector debt is actually a positive and similar to a suspension of a dividend in a corporate structure. When a company is under stress you don't want them draining capital by paying out dividend. As a holder of globals and realizing Russia has limited reserves, I think the defaults are perversely positive. If you can't understand that, you have not been in this market long enough and should go play in the sandbox.
Fri Mar 19 11:33:24 EST 1999
anonymous: Great Bull: Prins will go to zero in a commercial workout with Vnesh Bank. Find out the net equity of V Bank and you will know the recovery value of Prins. Remember, Prins are not the obligation of the Ministry of Finance...
Fri Mar 19 12:25:23 EST 1999
anonymous: <<should go play in the sandbox>> thank you,russian investor! Not buying russki bonds was the best idea in the first place,because these things are still 70% in the loss
Fri Mar 19 13:17:34 EST 1999
anonymous: For great bull: Interesting what you are saying about Prins. I have some and I bought them for about 6%, since my bank said for weeks that they are a good buy at that price. Now they are more of the opinion you should buy RF 18, 28, 07 and 10 since the risk of default is much overdiscounted in the now days prices.
Fri Mar 19 13:17:37 EST 1999
anonymous: 03-19-99 Anonymous: <<should go play in the sandbox>> thank you,russian investor! Not buying russki bonds was the best idea in the first place,because these things are still 70% in the loss <<< Nice Logic!! I will never buy IBM because the price is down today. Go back to the sandbox!!!
Fri Mar 19 13:42:52 EST 1999
Cheetah (member of CCC: I love playing in a sandbox, full of gold dust, from being LONG LONG LONG... but I must admit I agree with El Oraculo, risk in Veni has risen dramatically because of the total disregard of the president towards PRIVATE PROPERTY >>> without gaurantees to ownership there is NO INVESTMENT !!! Venezuela is ticking right now... Chavez could still pull something out next week (economic focus , new finance minister) if not - watch out !!!
Fri Mar 19 14:00:06 EST 1999
Cciano: To all "sandboxplayers" capable to understand german: I recommend to read "Caught in the russian debt-trap: IMF and banks" (http:/finanzen.yahoo.de/schlagzeilen/190399/kreditwirtschaft/921865999-1678737522.html)greetings
Fri Mar 19 14:10:12 EST 1999
Cheetah: my friend give un non-wagnerians a hint at what it says.
Fri Mar 19 14:38:29 EST 1999
CCCciano: Hi Cheetah, it's an extense article quoting a scientific from the Federal Institute for Studies on Eastern Europe and a member of DB Research. In a few words: Russia is playing very professionally and overall cynically on its debt-keybord, defaulting on official debt and serving comercial debt. IMF and banks caught in the trap, no choice: they will have to give further credits though only for serving next due payments. Russia playing to gain time till parliament election in dec. Technically Russia unable to come up again. Fundamentals wrotten. Monthly capital flight estimated 2 bn $, demonstrating the seriousness of the situation. Definitely Russia unable to meet their obligations for long long time to come. Un auténtico pozo sin fondo. Greetings
Fri Mar 19 15:10:42 EST 1999
anonymous: Nice Logic!! I will never buy IBM because the price is down today. Go back to the sandbox!!!AND WHO LOST BILLION WITH THIS BROKE S**T COUNTRY??? PEOPLE WHO BOUGHT RUSSIAN BONDS!!!!!!
Fri Mar 19 16:05:45 EST 1999
Cheetah: Is that INNOVA trading OVER 80 ?? From the low 70's last week ? My "book".... Cheat-DAH !!
Fri Mar 19 16:26:44 EST 1999
anonymous: 03-19-99 Anonymous: Nice Logic!! I will never buy IBM because the price is down today. Go back to the sandbox!!!AND WHO LOST BILLION WITH THIS BROKE S**T COUNTRY??? PEOPLE WHO BOUGHT RUSSIAN BONDS!!!!!! <<< hey bozo, go buy your Argentina at a premium to par.. I'll take Russia at a 50% current yield. You may have gone broke selling Russia, but top performing bond and equity markt this year!! The joke is on you, now go back to the sandbox!!!
Fri Mar 19 16:35:56 EST 1999
anonymous: Question for the sandbox: Would you rather own a sh*t country that needs to come up with US1.5bn a year for interest payments and a country that just launched 4 sattelites for GlobalStar and country whose bonds pay 50% in dollars; or 2) a bannana republic who has a canal and bonds pay less than 10%.. Your choice.. buy when the blood is in the street...
Fri Mar 19 16:41:43 EST 1999
anonymous: <<BRAZ C.. JUN99 .. 66.60 .. +622>> wasn't there some genius with a 30 handle??? Also calling everybody BOZO,Ralfie???
Fri Mar 19 16:42:19 EST 1999
anonymous: To CCCciano: You find as little reasons to be an optimist as to be a pessimist. Russia might be in a bad situation, but I do not think that it is as bad as you think. Till now - since last august - they paid their interests on Eurobonds correctly without new credits and without that the foreign reserves of the CB went down in the same measure. I have the - not provable - feeling that they go much better than one thinks. It is a little bit the same situation like it used to be in Southafrica when the whole world said only bad things about it because they did not like the apartheid regime. There are always some coutries and people in this world which are not liked by the journalists and the press, certainly the american one. And they say so many bad things and they repeat it daily, that in the end everybody - and also you - believes it as the only truth.
Fri Mar 19 17:02:06 EST 1999
anonymous: Hey Bozo,can't even read!! I never touched that russki stuff,never went broke either,unlike you!!!!
Fri Mar 19 17:18:57 EST 1999
anonymous: <<markt>> VHS Königswinter hat schon wieder nicht geholfen,Du Dummi....wenigstens kaufst Du endlich RusFed Bonds und kein Goldbarren mehr,hat lang gedauert,Du Depp
Fri Mar 19 17:19:26 EST 1999
anonymous: <<markt>> VHS Königswinter hat schon wieder nicht geholfen,Du Dummi....wenigstens kaufst Du endlich RusFed Bonds und keine Goldbarren mehr,hat lang gedauert,Du Depp
Fri Mar 19 17:23:00 EST 1999
anonymous: DEAR FRIEND ANONYMOUS: If you had touched the "russki stuff" or let's say it in a little more civilized way, for instance the Russian Federations Eurobond 28 or 18 in december last year, you would have made a profit until today of roughly 55%, 30% capital gain and the rest in interest payments. People like you will never get bancrupt, but they do not know how the world is made like, and they have something immensely annoying....
Fri Mar 19 17:28:12 EST 1999
anonymous: Ok,but they cheated billions out of investors,or didn't they?? GKO?? PRINs?? How would you call that behaviour??
Fri Mar 19 18:02:21 EST 1999
anonymous: I would cal that behavior: You gotta do what you gotta do. Can pay everyone. Only so much pie to around and they want to feed the globals. Sorry mate.. as the Japanese would say, we don't like the wrong bond!! and if you own the prins are gkos, you are in the wrong bond!!! better luck next time! maybe you will learn the eurobonds are senior in every country. and maybe the imf is about to learn that also..
Fri Mar 19 21:40:05 EST 1999
anonymous: Yea sure guys follow Konigswinter, M Hilly and all the guys that were fired from wall street because they lost their shirts. Great Bull is wrong. Please sell... I want to buy.
Sat Mar 20 03:38:49 EST 1999
anonymous: <<I would cal that behavior: You gotta do what you gotta do. Can pay everyone. Only so much pie to around and they want to feed the globals. Sorry mate.. as the Japanese would say, we don't like the wrong bond!! and if you own the prins are gkos, you are in the wrong bond!!! better luck next time! maybe you will learn the eurobonds are senior in every country. and maybe the imf is about to learn that also>> SEE WHAT I MEANT? I DIDN'T BUY ANY RUSSKI,COMPRENDE?????
Sat Mar 20 04:08:41 EST 1999
CCCiano: Membership in Moscow Golf Club costs 90.000 usd/year. New Russians play golf like crazy. So Russia will go fine. No doubt. Another point: Why the hell do you start to insult each other again??? Those who insult should go back to the sandbox. Nice weekend to everybody!
Sat Mar 20 07:01:19 EST 1999
anonymous: V.Geraschtschenko:(oficial)russian gold and reserves at only 11,4 bn $,payments due this year: 17.5 bn$. If there's no restructure... us$ at 23,65 roubles. dobre djin. igor
Sat Mar 20 13:09:08 EST 1999
anonymous: To "blood in the street" : I agree you must buy when BITS, but who told you that is the case in Russia ??? Blood will be in the street after they announce the restructuring of Euros and they formally say that recovery on ex-Soviet stuff is 00000 !!IAN's and PRIN'S and MINFIN's worth ZERO .... THEN Iwill buy more R28 and R18 or whatever new bond is issued ... in the meantime go back to your sandbox - I will be at mine in St. Barths with my CCC account ... EL ORACULO
Sat Mar 20 13:17:03 EST 1999
anonymous: and one more doomsday prophet. it is getting really boring with you people.
Sat Mar 20 13:17:51 EST 1999
anonymous: The central bank of PAKISTAN hasn't yet decided wether to accept euros rescheduling.PAKISTAN has had an agreement with the paris club and is now near to an agreement with london club. It hasn't still decided on euros.I think it will say no but not before it has concluded the LONDON CLUB TALKS.Doing so it will succed in obtaining better conditions from the l.club who thinks the country will reschedule euros.PAKI is very clever
Sat Mar 20 13:40:07 EST 1999
anonymous: Hi Oracolo,this opinion is a little too pessimistic,restructuring EUROs results in a complete state default of the RusFed.Possible but highly unlikely.rgds.Charles Watson
Sat Mar 20 13:46:10 EST 1999
anonymous: True. Prins and Ians will go to zero as VBank's liabilities exceed its assets by US$40 bn. So in a simple workout residual claims gets zero. But think about it. Russia has defaulted and restructured GKOs. The London Club debt is going to be forgiven. Paris Club and multilaterals will do deals. The country has no debt except the Euros. It don't take much brains to think they will pay. Especially after they stabilize. You think Al Gore wants to go into the 2000 campaign as the adminstration that lost Russia? The Democrats are very weak on foreign policy. Come on Girls use your brians here. Russian debt and equity markets are the top performing dollar assets in the world this year. I am sorry some of you bought the Globals at close to par but get over it! What of the unpardonable sins of a trader is to "revenge trade". Let's all try and make some money here and help Russia out of this mess.
Sat Mar 20 15:08:07 EST 1999
anonymous: appr. 2 1/2 years time for restoring the confidence in RF Euro's yet. & selling new bonds in autumn 01!
Sat Mar 20 16:11:14 EST 1999
anonymous: Come on Girls use your brians here. Russian debt and equity markets are the......GIRLS?? BRIANS?? MOSKOVSKAYA OR STOLYCHNAYA??
Sat Mar 20 16:38:26 EST 1999
anonymous: this comment (?) isn't worth using capital letters, sorry!
Sat Mar 20 19:13:48 EST 1999
anonymous: don't u know what a brian is?
Sat Mar 20 19:15:18 EST 1999
anonymous: don't you think it is sexist to assume that not everyone on this site is female? what is wrong with using the fem gender then when addressing this site?
Sat Mar 20 19:15:58 EST 1999
anonymous: 2 many horse's asses on this site!
Sat Mar 20 20:01:36 EST 1999
anonymous: stupid comments, IQ <50. quiet watcher.
Sat Mar 20 21:20:20 EST 1999
anonymous: quiet watcher < less than the price of prins
Sun Mar 21 04:49:06 EST 1999
anonymous: http://www.localweb.com/writer/unsocial.html
Sun Mar 21 04:50:07 EST 1999
anonymous: If your earnings are equivalent to the quality of your comments: must be poor boys (and GIRLS).
Sun Mar 21 12:04:14 EST 1999
the view from dc (unpourtous: anon: " go into the 2000 election as the administration that lost russia". I have heard talk from reliable sources that polititians, gore in particular, want to DISTANCE themselves from the policies, ie generosity, which have already lost russia as a successful, democratic, european emerging country (like Poland). The wild card, of course, is clinton who has nothing to lose and whose policy, generosity, it is in the first place. My best guess, and only a guess, is that Washington will support, and possibly discreetly encourage, IMF lending. The question remains will that resumption be good for bond holders or not? Pay your money and take your chances.
Sun Mar 21 13:28:36 EST 1999
anonymous: In some ways I wonder why the IMF makes such a big story about giving money to Russia. In all means Russia - like all the other countries, debitors of the IMF - have to give this money back and - if I am not mistaken - the debt of the IMF has an absolute priority of all other debts. So, why making such a enourmous story about leding money to Russia. By the way: Until now they paid all post-Soviet-debts correctly back.
Sun Mar 21 16:23:07 EST 1999
anonymous: That is true. IMF just bailing itself out. And also worried that if Russia defaults to IMF then other large debtors will follow. IMF just trying to get its US$20 Bn campaign contribution to Boris Yeltsin back.
Sun Mar 21 16:32:43 EST 1999
anonymous: Sunday, and Chavez still has NOT come out to defend PRIVATE PROPERTY being INVADED... total anarchy is on the horizon... remember Fidel began by taking over rural properties !!! Investor's WAKE UP !!! Put the pressure on... DEMAND the reinstatement of the RULE OF LAW ... no private property = no investment = economic debacle.... EL ORACULO
Sun Mar 21 16:36:05 EST 1999
anonymous: Private property is THEFT!
Sun Mar 21 16:44:27 EST 1999
anonymous: now we have commie comments too. welcome. quiet watcher.
Sun Mar 21 17:06:46 EST 1999
anonymous: PDVSA, Veni Oil Co., is out of cash, first time ever, and Chavez silent on defense of private property and rule of law, who is going to buy PDVSA bond issue ? GIRLS only Luv Ya
Sun Mar 21 18:12:20 EST 1999
anonymous: commodity index shows real friends are rarest commodity in the world.
Sun Mar 21 18:16:36 EST 1999
anonymous: Tell that to Cheat-DAH. He was pumping Chavez and Vennie ealier this like a Texas oil well!!!!!
Sun Mar 21 21:18:52 EST 1999
anonymous: ah thinks all them mothers bein' short gonna regret it very soon. from obasanjo, the long one with the long one.
Sun Mar 21 22:55:43 EST 1999
anonymous: ah obasanjo yu must be Ralphie's friend
Sun Mar 21 23:02:09 EST 1999
Cheetah: Yes "SINNOMBRE" it has been difficult for you to accept that I bot AND recommended Venezuela before Chavez was elected and rode it thru the last couple of weeks, I have SOLD, I missed the last couple of points - so what - I told yu I was buying INNOVA (up 6 points). But I do not like the latest developments in Veni nor what they represent (towards private property, international relations, rule of law, PDVSA cash flow etcc)
Sun Mar 21 23:04:20 EST 1999
Cheetah: Yes "SINNOMBRE" it has been difficult for you to accept that I bot AND recommended Venezuela before Chavez was elected and rode it thru the last couple of weeks, I have SOLD, I missed the last couple of points - so what - I told yu I was buying INNOVA (up 6 points). But I do not like the latest developments in Veni nor what they represent (towards private property, international relations, rule of law, PDVSA cash flow etcc)
Sun Mar 21 23:08:03 EST 1999
Cheetah: But, I will be long again Veni, IF President Chavez strongly condemns the massive invasions of private property AND announces a coherent economic plan as scheduled on the 25th. I will also add to my Veni equity position.
Mon Mar 22 04:06:34 EST 1999
anonymous: PAKISTAN central bank said it hasn't yet decided wether to include eurobonds in debt rescheduling.The central bank governor said that they haven't missed and they won't miss any payment on this kind of debt.Is this a soft way of saying they won't include this kind of debt in agreements?I think it's like this.What do you think about?For details go www.Reuters.com/news and then search news and go for eurobonds with infoseek.RGDS
Mon Mar 22 04:18:16 EST 1999
Heavy: To Light: Well, CERA quotes Vene's production cost (of heavier, lower quality crude vs high-quality premium Gulph black gold) at $7.0. They're including exploration and development in this figure, that's probably why we differ, as your figure seems to be the marginal cost of production.
Mon Mar 22 04:22:23 EST 1999
Heavy: My figures are from CERA. Gulph production costs are almost definitely in $2-3 range per barrel INCLUDING expoloration and development. I think you're quoting marginal cost here... Regards...
Mon Mar 22 04:27:09 EST 1999
Heavy: On Vene vs Russia. Vene has the willingness and ability to collect taxes and to translate trade surplus (i.e. higher oil prices) into fx inflows. PDVSA a world class company.
Mon Mar 22 04:35:13 EST 1999
Heavy: Pakistan has 6m window period to act on Paris Club demand to restructure eurobond obligations. Are they willing to stiff the lender of last resort just to maintain brand name in Euro market. I think not. Banks will be lending to them in another 2 0r 3 years despite default....
Mon Mar 22 07:20:01 EST 1999
anonymous: ah dunno any ralfie. obasanjo
Mon Mar 22 09:36:59 EST 1999
Puma: Is Russia going to get some money this week? What do you think? Most bets are that the trip will end in a retoric support from the US, and no money.
Mon Mar 22 10:49:51 EST 1999
Heavy: No money this week (Summers, Gerashchenko, Zadornov...)
Mon Mar 22 10:53:37 EST 1999
anonymous: PDVSA a world class corruption agency which will be MORALIZED and CLEANSED by President Chavez !! Then it will be once againg world class... El Oraculo
Mon Mar 22 11:19:11 EST 1999
anonymous: obasanjo is the new governor of PRIAPAPEO state, rebel that wants to restructure debts with central brasilean GIRLS
Mon Mar 22 12:34:43 EST 1999
anonymous: Need some corporate names in latin america. Any recommendations ?
Mon Mar 22 15:51:11 EST 1999
wally: the real obasanjo is a yoruba chief and president elect of nigeria. i don't know and doubt whether he deals in brazilian girls as he has officially 21 wives.
Mon Mar 22 17:24:28 EST 1999
anonymous: i tink te reel obsanjajo is he who screws the most without anione noticing the beeg chuzo keteme tieron >>>>>> ie hu guito sabez to private property !!! VERY BEEG OBSANJAJO
Mon Mar 22 17:58:50 EST 1999
anonymous: GIRLS ! THE END IS NEAR...maybe it wasn't end of feb - it's APRIL FOOLS get out while you can Veni with 40 handle Luv ya GIRLS!!!
Mon Mar 22 18:10:59 EST 1999
anonymous: http://www.dcd.net/NBP/persuasn.html#anchor50737
Mon Mar 22 18:40:59 EST 1999
anonymous: i no screw too much. i quite old and politics very heavy burden. so i let screw. obasanjo from lagos, nigeria soon i goes to abuja. <beeg obasanjo> is fake.
Mon Mar 22 18:49:57 EST 1999
anonymous: 03-22-99 PILLX: (194.78.227.216) 111___The inability to raise taxes is the reason Russia has run up $50bn debts - on top of its existing Soviet-era debt - that it cannot pay. It has already stopped servicing its domestic debt. While western banks bargain to get a fraction of their money out, many Russians who invested in government securities have lost their savings.Despite a healthy trade surplus, capital flight means that Russia's reserves are also running out. Michael Zadornov, the finance minister, says that without the IMF's help, the government cannot service its foreign debts. It needs $4.8bn (£2.9bn) to service its IMF and World Bank debt this year.The argument used in the past for continuing Russian loans - that, despite the corruption, the money at least supported reform - no longer applies. There are no heavyweight reformers in the government.
Mon Mar 22 21:09:50 EST 1999
Cheetah: Sinnombre: I have held (clipped) my leveraged Russia 18's for a month and a half - that means that my cost is 24 minus 2 = 22... and I continue to clip, clip clip
Tue Mar 23 04:05:26 EST 1999
anonymous: to anon there are no heavy weight reformers in russia at all. the heaviest thing by people who are supposed to be reformers is not their brain but tounge and they can do the only one thing with it - blah-blah-blah.
Tue Mar 23 08:35:38 EST 1999
Puma: Shouldn't they impose capital controls in Russia? Rgds
Tue Mar 23 09:07:50 EST 1999
anonymous: Russia will come to an agreement with the IMF soon. That's the payoff for giving up Serbia.
Tue Mar 23 12:23:22 EST 1999
anonymous: The Ministry of Finance has told Vnesheconombank to transfer DM 180 million and DM 117.18 million to pay the coupons on two Eurobond issues on March 25 and 31, a ministry source told Interfax.
Tue Mar 23 12:29:22 EST 1999
SATrader: South African bonds will be lifted by hopes of further cuts in interest rates as the central bank continues to trim the repo rate. A rally for bonds quickly feeds through to banks, which have huge fixed-income holdings. A record trade surplus is likely to haul the rand higher against the dollar this week. .
Tue Mar 23 12:50:23 EST 1999
wally: unfortunately (for us) russia has not given up serbia yet. their ties are centuries old. in fact primakov is threatening to cut his visit short if milosevic is bombed by nato.
Tue Mar 23 14:07:30 EST 1999
anonymous: Primo cancels. Guess better than sitting in White House while Nato bombing his ally.
Tue Mar 23 14:49:07 EST 1999
anonymous: Russia released the details of its debt restructuring plans: foreign borrowers will get about 1 cent on the dollar!!
Tue Mar 23 15:53:04 EST 1999
anonymous: <1cent on the dollar> you should be more specific and not just post general bullshit without knowing what the eff is going on. quiet watcher.
Tue Mar 23 16:35:18 EST 1999
anonymous: Primakov turns back on the atlantic and returns to Russia. Our dear Russia 28 and 18 will go somewhat down. Maybe moments to buy some more....
Tue Mar 23 16:42:26 EST 1999
anonymous: Russian Federation debt lost more than three percentage points, with the country's global bonds due 2005 <RUSGLB05=RR> off 3-7/8 at 21 bid. The country's global bonds due 2018 <RUSGLB18=RR> fell 2-3/4 to 24 bid.
Tue Mar 23 17:10:56 EST 1999
Cheetah: Bot more Innova today (82), as bombs hit Russia 18 down and Primakov says something else, then I will buy more R18 - hopefully at 21.
Tue Mar 23 17:13:25 EST 1999
Cheetah: Remember IAN's and PRIN's and MINFIN's worth: 00000000000000
Tue Mar 23 17:15:59 EST 1999
anonymous: Right, Cheetah. But I deeply hope Primakov can use his key to prevent NATO airstrikes. Regards Spadolini
Tue Mar 23 17:22:00 EST 1999
anonymous: He can't. Solana right now anouncing airstrikes. You had your fun with RusFed. Now GO NUTS!
Tue Mar 23 17:36:56 EST 1999
wally: why should we go nuts? we clip, clip and clip.
Tue Mar 23 17:48:43 EST 1999
anonymous: Of course, airstrikes are announced, what else do you expect Javier to do? There is a window of opportunity even after cruise missiles had done their job. regards to anon, Spadolini
Tue Mar 23 17:50:26 EST 1999
anonymous: Russia will back up Milosevic. Considers Nato airstrikes agression and will no more respect embargo on weapons, as they did not last months as they supplied hundreds of anti-air-missiles. Do you believe tey will get money for restructur of debts from IMF or anybody else under these circumstances? I dare to doubt that. Russian reserves not enough to meet their obligations without new money. And on what russian payment will you clip then?
Tue Mar 23 17:55:03 EST 1999
anonymous: we are trembling, friend anon!
Tue Mar 23 18:05:12 EST 1999
anonymous: is this a buying opportunity for russia eurobonds...if so is the 28 with the put the best alternative?
Tue Mar 23 18:16:42 EST 1999
Cheetah: Depends on what you want, R28 or R18 ? I prefer the R18. Primakov will posture and posture and we will buy on the big dip and clip and clip...
Tue Mar 23 19:02:09 EST 1999
anonymous: GKO holders clip clipped too. Russia is heading for the status of a financial pariah. What is different this time relative to the last default is that Russia has managed to alienate almost everyone except for iran, serbia, and greece. Political support in the US is at an all time low. They wouldn't even postpone air strikes while Primakov was in town. Check out this article in todays WSJ: http://interactive.wsj.com/articles/SB922143264485969808.htm
Tue Mar 23 19:17:55 EST 1999
anonymous: Russia a pariah like Nigeria.. but they still pay their bonds..and have a space shuttle, mate!!

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