Color of the Market Archive, Page #22
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

Tue Apr 27 22:59:19 EDT 1999
¤ wally ¤: <Russia must force new legislation through parliament> just watch this condition evaporate the deeper nato wades in to their own produced sh.. in the balkans.
Tue Apr 27 23:02:40 EDT 1999
anonymous: Wally, Very positive after about 10 stoli's.
Tue Apr 27 23:12:20 EDT 1999
¤ wally ¤: <their reserves!> we are not in college here where they teach the ten economic commandments. these (commandments) have been all abolished and replaced by chaos. give me a break with the reserves or apply for a lecturer's job at harvard. we are discussing POLITICS as far as russia is concerned, no graphs, no fundamentals, no upper support, no lower support, no 200 day moving average, no approved or not approved or fake budget and NO forecasts because nobody knows what the next months will come up with. and that includes camdessus, wolfensohn, fischer, their master, you and me as well as all the others here on this forum. my opinion.
Tue Apr 27 23:14:49 EDT 1999
¤ wally ¤: <10 stoli's> nah, but two double ones (and not even stolis but cheapees).
Tue Apr 27 23:22:22 EDT 1999
¤ wally ¤: seems to be bedtime for the east coast and the west coast is still having dinner. will check later.
Tue Apr 27 23:25:42 EDT 1999
¤ wally ¤: pillx: tomorrow i am going to order your recommendation "islay malt".
Tue Apr 27 23:28:15 EDT 1999
anonymous: For all intrested in Veni equities http://www.bradynet.com/e761.html
Tue Apr 27 23:39:51 EDT 1999
PILLX: Take the LAGAVULIN aged 16 years, depending on your taste the LAGAVULIN distilled 1979 double matured is softer and more expensive, but without taking the cost in account I prefer LAGAVULIN 16 ,it have a stronger taste,SKOL
Tue Apr 27 23:49:07 EDT 1999
PILLX: President Boris Yeltsin fired a prominent Communist-leaning member of the Russian government in what could be the beginning of a long-rumored purge of cabinet conservatives."There's a strong feeling that this government is just not doing enough on the economic front and that a new team is needed to breathe new life," said a Moscow-based Western diplomat.
Wed Apr 28 00:00:35 EDT 1999
anonymous: no graphs, no fundamentals, no upper support, no lower support, no 200 day moving average, no approved or not approved or fake budget and NO forecasts<< AND MOST IMPORTANT, NO EUROBOND INTEREST PAYMENTS!!
Wed Apr 28 00:13:59 EDT 1999
anonymous: ah reckon y'all is juss po' white skinny assed trash talkin big and nuttin fillin yo pants front and back. may the good lawd hav mursy on yo dam souls. kneel down an pray fo fogivnes. obasanjo.
Wed Apr 28 00:17:51 EDT 1999
anonymous: amen brother. yo is raht for sho.
Wed Apr 28 00:22:06 EDT 1999
anonymous: Speaking before another unhappy audience of bankers and investors Monday, Stanley Fischer, the IMF's deputy managing director, pointed out that when people buy bonds offering yields 5 or 10 percentage points above super-safe U.S. Treasuries, they are in effect acknowledging the risk of default. "It will happen one day that a country cannot get enough from the public sector that will enable it to continue servicing" its bonds, Fischer said. http://www.washingtonpost.com/wp-srv/WPlate/m-financial.html
Wed Apr 28 00:23:09 EDT 1999
anonymous: Russia?
Wed Apr 28 04:07:36 EDT 1999
anonymous: If you push RUSSIA to EUROS default you are going to have another Vietnam in EUROPE.Does the world whant that?No peace in the balcans without RUSSIA!!!
Wed Apr 28 04:42:50 EDT 1999
anonymous: Hehehehehe, Ralfie erased all bradynetters' comments re. the amusement value of his site. rgds. TRUTH HURTS
Wed Apr 28 05:11:15 EDT 1999
optimist: Yesterday sacking of Vadim Goustov brought concerns about the destiny of the current cabinet. This move of the president will likely dissapoint communist majority at Parliament and will make impeachment vote scheduled for 15 may more hostile to the president. Tricky thing is - Mr Goustov yesterday told Interfax news agency his sacking was "completely unexpected" to him. Prime minister Mr Primakov today announced that Presidents decision was widely anticipated and that Mr Goustov requested resignation number of times. Yesterday Sergeui Stepashin, Minister of Interior was elevated to the position of First vice prime minister. Egor Gaidar, former reformist prime minister said that this elevation could likely mean Stepashin might take position of acting prime minister id Primakov is sacked. Resignation or firing of Primakov seems unlikely though. but russian media seriously mulls rumours that eltsin could fire primakov right after may holidays.
Wed Apr 28 06:04:01 EDT 1999
Savonarola: This forum is amazing. Now people complain because the IMF wants Russia to pass legislation before they see any money. Isn't that good? The deal will be agreed but Russia must do its part before they see the cash. That reassures me that this time Russia will finally do the serious staff. I prefer a deal like this which is good for the medium term tan a quick fix that nobody would believe. So now the bet is on Russia doing its bit, which I believe they will do. Parlaments are usually collaborative when the country faces disaster, as Argentina in 91, Bulgaria 96 and Brazil a few months ago. So guys Euros are now a bigger bargain than ever...stop complaining and jump on board!!
Wed Apr 28 06:28:21 EDT 1999
anonymous: These smart bombs kill daily innocent civilians. Another 16 today. Some people have to get a little smart and let go on smart bombs. Time for these guys to go back to their barracks, where they belong. This is just STUPIDITY, it's not war. Soldiers stay intact and civilians are killed from both sides. ENOUGH.
Wed Apr 28 07:52:58 EDT 1999
¤ wally® ¤: we are all doomed. euros are doomed. emerging markets are doomed. today i will buy a rope and shoot myself (with the rope of course).
Wed Apr 28 08:24:59 EDT 1999
anonymous: Wait!Don't bite the bullit,Wally!There is still one hope,BUY GOLD AND DIG IT IN YOUR GARDEN!rgds.Charles
Wed Apr 28 08:26:06 EDT 1999
anonymous: Ralfie didn`t erase all messages,but his site is now such a shitshop he should open a new site
Wed Apr 28 08:41:16 EDT 1999
¤ wally® ¤: fred: will consider your advice (partly). going to buy a golden rope and shoot myself.
Wed Apr 28 08:43:49 EDT 1999
¤ wally® ¤: soory, that message was for charles.
Wed Apr 28 08:43:55 EDT 1999
¤ wally® ¤: soory, that message was for charles.
Wed Apr 28 08:44:40 EDT 1999
¤ wally® ¤: sorry, that message was for charles.
Wed Apr 28 08:48:04 EDT 1999
anonymous: DOOMSDAY has come. all russian bonds DOWN DOWN DOWN !!!!!
Wed Apr 28 08:51:02 EDT 1999
¤ wally® ¤: YES! a full point, some even 1½ points. just fired my gardener and reduced my wife's pocket money. bye, bye world.
Wed Apr 28 09:02:22 EDT 1999
anonymous: MINFIN 3 yield 1633956830288.04 ??? (Bradynet). you can add more ceros if you want, but ruskis wont pay ..... Eurobonds, next default..
Wed Apr 28 09:07:13 EDT 1999
anonymous: MOSCOW, April 28 (Reuters) - Russia's parliament, which must pass key laws before the International Monetary Fund sends fresh credits, has not received the bills from the government, but may still pass them by July, a legislator said on Wednesday. In an additional announcement the Kremlin asked all holders of russian Eurobonds to trade all their now worthless papers for a working weekend (waste collection )in Vladivostok come February 2000 if/when the weather is fine. Asked whether the invitation applies to holders of debt formerly known as Prins and Ians the spokesman declined to comment.
Wed Apr 28 09:10:04 EDT 1999
anonymous: <<DOOMSDAY has come. all russian bonds DOWN DOWN DOWN !!!!!>>buy,buy,buy,Dummy!Where is your Gehirn?
Wed Apr 28 09:11:22 EDT 1999
anonymous: Holders of Prins and IANS are invited too! Ivan Rootshoofsidruv
Wed Apr 28 09:14:47 EDT 1999
anonymous: now you laugh,and after refinancing you will be whining and crying again:"should have bought blablabla"
Wed Apr 28 09:24:30 EDT 1999
wally®: but i prefer wining and dining over whining and crying. please give me your valuable advice how to get ouf of this mess. may be sell all emerging markets and buy 3 month CDs? please help me!
Wed Apr 28 09:30:08 EDT 1999
wally®: <Eurobonds, next default> sounds like a broken record to me.
Wed Apr 28 09:32:08 EDT 1999
PILLX: TO Anonymous: MOSCOW, April 28 (Reuters http://www.moneynet.com/content/MONEYNET/CategoryNews/NewsStory.asp?Cat=FINMKT&SubCat=FMAT&ID=SF-04/28-AnL27296923@NEWS-P1&Index=6&HeadlineURL=../CategoryNews/CategoryNews.asp&DISABLE_FORM=&NAVSVC=News\Category
Wed Apr 28 09:33:53 EDT 1999
anonymous: Why is it that the bears never give any reason for there claims?
Wed Apr 28 09:34:51 EDT 1999
anonymous: Hi Wally,simple answer,don't listen to the wichsers and rubblers,keep RusFed and take it easy
Wed Apr 28 09:37:05 EDT 1999
anonymous: Why is it that the bears never give any reason for there claims? BECAUSE THEY LOST AND ARE JEALOUS
Wed Apr 28 09:37:07 EDT 1999
anonymous: Spreads on Russian Eurobonds have narrowed, especially in the wake of news that Russia would not pay its Soviet era debt obligations and would concentrate on avoiding default on its Eurobonds, creating a more predictable investment climate.
Wed Apr 28 09:38:43 EDT 1999
anonymous: But "old Soviet debt" should not be avoided if we can buy it at 6%-7%,its the same underestimation as with the EUROs
Wed Apr 28 09:39:01 EDT 1999
wally®: pillx: does that mean we are NOT going to vladivostok? now i am disappointed.
Wed Apr 28 09:41:29 EDT 1999
wally®: <"old Soviet debt" should not...> true!
Wed Apr 28 09:42:38 EDT 1999
anonymous: wally, you may cut your budgets wherever you want, but please don't cancel your internet-connection!
Wed Apr 28 09:44:29 EDT 1999
anonymous: señores. i think you make fun. tofu
Wed Apr 28 09:46:52 EDT 1999
wally®: i don't think there are internet connections in graveyards (yet) but one never knows what future has in it's pocket for all of us.
Wed Apr 28 09:49:25 EDT 1999
wally®: <the wichsers and rubblers> some(few)times make their contributions too.
Wed Apr 28 09:54:33 EDT 1999
wally®: pillx: washinsky, D.C. just called. they are looking for us. we forgot completely. now bob and larry are asking for additional back-up by fred and charles. they think cheetah, you and me are not enough to finish the tools ahh.. i mean the job.
Wed Apr 28 09:55:09 EDT 1999
optimist: Savonarola: what you say is actually magic spell. I didnt hear a single reason from you why rusfeds have to go to 80th. tightening to Brasil lvls seems unlikely to me, at least cos even in the best times of this mkt russia was wider then brz. Now brz may get IMF's and investors' darling while russia is only political bargaining chip. Can you justify the opposite? Investor after all decides 1 major question - is investment creditworthy. both you and me think rusfeds are. But in the short term investor should decide what market direction will be. I personally think: 1. RF's had big run up, so some correction up to 50% of this runup is possible. thats what happens in brz lately 2. Eltsin confronts Parliament and Primo big time. So why to repeat magic spell buy buy buy, if you may well see market 10% lower in the coming couple of weeks?
Wed Apr 28 09:59:08 EDT 1999
Savonarola: Russian Euros are down/down/down....ok! you know who sets prices in the short term...answer: the shorters (Salomon/JP/Chase)...you know who gets cream in the medium term and lose everything and more....answer: the shorters (salomon/JP/Chase)....
Wed Apr 28 10:02:24 EDT 1999
wally®: optimist: your statement is fair. from my point of view rf euros are (presently) a hold as a correction was overdue. whether holding or selling depends on the individual investor's strategy or needs. by the way, savonarola has reduced his very optimistic forecasts already.
Wed Apr 28 10:05:22 EDT 1999
anonymous: I am and stay cautiously optimistic,first on correct payment and slowly on higher prices.I bought RF28 at 16.rgds.Fred
Wed Apr 28 10:09:52 EDT 1999
PILLX: WALLY,If they wish I can ask to the Russian beauty, she can advise on new Russian sensuality trend to calm the aggressive Soviets
Wed Apr 28 10:11:08 EDT 1999
Savonarola: Optimist: I am sorry if I haven't been very clear. I thinks RFs go to 80 this year because there is no reason why a performing asset (and I am convinced they will continue that way) should trade at the current wide spreads. Every investor, trading desk, back book got murder last year in Russia. People were fired, lines were cut. The bonds became ORPHANS. And the music from the analysts was: Default. None of these analysts speak russian and the public accounts in Russia are in russian...so..what do they know? Nothing. Now investors are coming back and there is no supply other than the $15bn and probably less... which is nothing compared with Brazil and others. As prices go up assets become fashionable and the analysts then will say: overweigth!.. this for sentiment. Now fundamentals: I think the russians are hiding reserves so as to negotiate easier...plus the country is now growing...and I saw it with my eyes. Summary: the problem last year in russia was a Financial one not an economic one...
Wed Apr 28 10:12:37 EDT 1999
wally®: fred: you are a lucky one. purchased at all time low, now you can sit back relax. 10 or 20% correction to the downside should not bother you at all.
Wed Apr 28 10:14:42 EDT 1999
optimist: Savvy: have you heard a cry sell from me? guess not. If JP/Sally are such jerks why the hell they issue earnings which exceed expectations and last year ones? If you speak to Chase market maker he ll tell you one thing - majority of his accounts still thinks its dagerous to stay long russia more than 2 weeks, and yesterday selling is explaianed by such smart money accs hitting the bids. Its my guess that bradynet dominated by outrageuos buyers due to 2 reasons - majority is small investoers who cant afford short trades evolving costly repos (which funds afford) and second overall positions are still deeply underwated. So, argue dont spell. We all know bonds will be redeemed at par. and unless discussion is about creditworthiness it would be useful to discuss here short-med term moves. rgds.
Wed Apr 28 10:20:09 EDT 1999
anonymous: LONDON, April 28 (Reuters) - Pakistan's Eurobonds were firmer in London trading on Wednesday after the Group of 10 leading industrial nations released a statement Tuesday saying sovereign borrowers should honour existing bond contracts.EXISTING BOND CONTRACTS!GOT THE PICTURE?NO DEFAULT IN PAKI OR RUSSIA OR ELSEWHERE
Wed Apr 28 10:22:13 EDT 1999
wally®: Savonarola: <I think RFs go to 80 this year because there is no reason why a performing asset...> it will take 2-3 years to convince the market/investors that euros are STEADY performing assets. i see (if everything goes well) the 60s maximum with ups and downs of 20%. the 80s are not realistic. but even around 50 will make a lot of people happy, especially fred who bought at 16.
Wed Apr 28 10:26:00 EDT 1999
Savonarola: Optimist, I accept your point but disagree. It is possible to go short being small...several boutiques in the US will give you that service at rerasonable cost. The shorters produced overall results that are good..as to what each book made...who knows? Regarding spec money...I go against them by definition...they have shareholders, mark to market, risk management, and I don't...so that's our advantage. Finally you know how prices move short term: line of least resistance...everything is going down now ( thanks to that silly Brazil deal) russia is still strugling plus we had a nice rally for the last month accross the board..so russia also goes down...Then it will bounce..etc...etc..you know the story... So do not be upset....I am expressing my opinion...not spelling...my arguments are by now very clear..cheers...
Wed Apr 28 10:26:04 EDT 1999
anonymous: Thank you,I bought much more at 29 and 31.My opinion is that Savo is right over 2-3 yrs because the masses don't buy now.Opti is more realistic.Lets not forget: we are 1)pioneers and 2)speculators.rgds.Fred
Wed Apr 28 10:26:59 EDT 1999
optimist: Wally, my compliments (if you care at all) You really one of the most reasonable people.
Wed Apr 28 10:28:21 EDT 1999
anonymous: please translate trader lingo into english. thankx
Wed Apr 28 10:32:51 EDT 1999
wally®: optimist: MY compliments to YOU. i never read your comments; i eat and digest them.
Wed Apr 28 10:38:10 EDT 1999
wally®: savonarola: i think nobody is upset and all your comments are welcome because you state your reasons.
Wed Apr 28 10:43:48 EDT 1999
wally®: <trader lingo> i think optimist meant underweighted using telegram style 'underwated'. optimist am i right?
Wed Apr 28 10:55:39 EDT 1999
anonymous: 4-28-99 Anonymous: MINFIN 3 yield 1633956830288.04 ??? (Bradynet). <<<Buy, buy, buy, buy!. Just a big Venzuela.
Wed Apr 28 11:04:28 EDT 1999
optimist: Wally: to be honest i meant 'underwater'. Theres hardly anyone who entered this market only when it hit its lows in october. So i assume people majorly hold positions at average 50th. BTW as to the big brokers. The books of big hiuses like GS or ML are really a mystery. I got a feeling they didnt show revaluing their books as of dec 31 . The sell off was so hard that those papers couldnt just dissolve in the air, all those expensive prins , ians mf's, euros MUST be on the brokers books. Reasons - euros at 60-80th - it was regular practice to shopw price up to 25 mm with .25 bid offer spreads to customers. when custy hits flow trader has to sell unless hes got back or relative or option book oda. But through screen its next to impossible to do 25 mm in one go. So paper remains on the book. And by the end of the year it was only a question to accountant how to hide this unrealised loss. I was following earniongs reports of big brokers as of 4 th quarter, they all demonstrated earnings not much differ from previous quarters (with the exception of ML and BoA). And if you estimate big brokers holding is at least 200mm and reval, say -40mm and trading losses as well hmmm there are definitely questions.
Wed Apr 28 11:07:39 EDT 1999
anonymous: 04-28-99 Savonarola: (194.112.55.140) Optimist: I am sorry if I haven't been very clear. I thinks RFs go to 80 this year because there is no reason why a<< SARVIE, IANS ARE STILL PERFORMING AND TRADE @ 6! BOND AIN'T IN DEFAULT UNTIL IT PAYS. SO THE DUMA WANTS TO IMPEACH YELTSIN AND THEY ARE GOING TO PASS HIS GOVERNMENT'S ECONOMIC PROGRAM. PRIMO WILL BE LEAVING SOON AND THERE WILL BE NO GOVERNMENT? WHERE ARE YOU GETTING YOUR REEFER?
Wed Apr 28 11:08:02 EDT 1999
optimist: 1.Wally: to be honest i meant 'underwater'. Theres hardly anyone who entered this market only when it hit its lows in october. So i assume people majorly hold positions at average 50th. BTW as to the big brokers. The books of big hiuses like GS or ML are really a mystery. I got a feeling they didnt show revaluing their books as of dec 31 . The sell off was so hard that those papers couldnt just dissolve in the air, all those expensive prins , ians mf's, euros MUST be on the brokers books. Reasons - euros at 60-80th - it was regular practice to shopw price up to 25 mm with .25 bid offer spreads to customers. when custy hits flow trader has to sell unless hes got back or relative or option book oda. But through screen its next to impossible to do 25 mm in one go. So paper remains on the book.
Wed Apr 28 11:09:30 EDT 1999
optimist: 2.And by the end of the year it was only a question to accountant how to hide this unrealised loss. I was following earniongs reports of big brokers as of 4 th quarter, they all demonstrated earnings not much differ from previous quarters (with the exception of ML and BoA). And if you estimate big brokers holding is at least 200mm and reval, say -40mm and trading losses as well hmmm there are definitely questions.
Wed Apr 28 11:11:34 EDT 1999
anonymous: Summers-period of Danger in Russia Has Not Passed, Welcomes Russia, Imf Talks (This is a headline-only alert, although it will likely be followed by an article soon) << Bye, Bye, Bye! Just a big Venezuela.
Wed Apr 28 11:14:06 EDT 1999
wally®: 'underwater' makes more sense to me. was confused too. (underweighted would have been a contradiction).
Wed Apr 28 11:17:53 EDT 1999
optimist: Wally , no more compliments, or my postings will be mile long :)
Wed Apr 28 11:30:52 EDT 1999
PILLX: An inadequate IMF package would have a pejorative effect on the (Eurobond)market.But selling likely would be short-livrd.I think the Eurobonds remain in an up-trend.Trading in Russian Eurobonds has been active this week.The bonds traded off about two or three points,perceived value now is at the shorter end of the curve.Russian Eurobond coupons will be paid,even i'ts unsure whether the principal on the bonds will be paid back.The indications an IMF deal is practically done have caused 'buy the rumor,sell the fact'trading to kick in already.
Wed Apr 28 11:32:55 EDT 1999
anonymous: The thing that seems very important to me is that the G 10 said in a statement that sovereign states should honour eurobonds.This means they won't force a rescheduling of eurobonds.I think they can't do it on the old emission,they first have to change contract clauses.
Wed Apr 28 11:36:07 EDT 1999
optimist: pilx:'perceived value now is at the shorter end of the curve.' Its a little bit doubtful, cos curve usually normalised by arbitrators who come in when market is quiet and liquid. BTW current inversion of euros curve is just another sign the market isnt THAT stable. Current sit shows rusfeds still trade as equity , not debt, without assumption of curve abnormalities
Wed Apr 28 11:38:01 EDT 1999
anonymous: 04-28-99 Anonymous: The thing that seems very important to me is that the G<< Clearly G7 won't force any country to default on their eurobonds, they are not going to provide the funds through the IMF to pay eurobonds. For example, if Russia needs a $4 bn IMF deal to pay $1 Bn in eurobond payments, the IMF will only give them $3 bn and force Russia to find the money elsewhere. That is now the tactic of the g7/IMF and that is what they are preparing us for. Listen up, BradyNetter! You seem to be in denial!
Wed Apr 28 11:40:59 EDT 1999
anonymous: die rubbler werden nicht alle
Wed Apr 28 11:42:02 EDT 1999
anonymous: like it or not,Russia will honor all the RusFed debt obligations
Wed Apr 28 11:43:49 EDT 1999
PILLX: PAST gains could make Russian Eurobonds ripe for profit-taking in the near term,euros are a good thing to be holding for next three to six-months.Eurobonds have benefited as it has become increasingly evident they are the Russian government's priority among its traded debt,officials have reiterated Russia will pay the remaining $1.2b.it owes in Eurobond coupon payments by the end of the year.At the moment,the government is meeting most of its debt servicing obligations - including debt payments to the IMF and other multilateral lenders - through the central bank's hard currency reserves.Net reserves were $10.8b.on April 16, little more than $6.0 billion of which was in cash.With the government due to make more than $2.0b. in payments to the Fund and more than $700b.in Eurobond payments by July,a skimpy IMF loan will force the government to dive further into its reserves,the government probably would use a combination of reserves and currency controls to meet its payment priorities. They will run down reserves and will continue strangling the foreign exchange market,next year,things will be reconsidered. Russia's traded Soviet-era debt is likely to remain around current levels,since expectations of an agreement have already been priced in,IANs and PRINs,which people are saying could restructure into a long dated Eurobond
Wed Apr 28 11:44:27 EDT 1999
PILLX: PAST gains could make Russian Eurobonds ripe for profit-taking in the near term,euros are a good thing to be holding for next three to six-months.Eurobonds have benefited as it has become increasingly evident they are the Russian government's priority among its traded debt,officials have reiterated Russia will pay the remaining $1.2b.it owes in Eurobond coupon payments by the end of the year.At the moment,the government is meeting most of its debt servicing obligations - including debt payments to the IMF and other multilateral lenders - through the central bank's hard currency reserves.Net reserves were $10.8b.on April 16, little more than $6.0 billion of which was in cash.With the government due to make more than $2.0b. in payments to the Fund and more than $700b.in Eurobond payments by July,a skimpy IMF loan will force the government to dive further into its reserves,the government probably would use a combination of reserves and currency controls to meet its payment priorities. They will run down reserves and will continue strangling the foreign exchange market,next year,things will be reconsidered.
Wed Apr 28 11:45:50 EDT 1999
PILLX: PAST gains could make Russian Eurobonds ripe for profit-taking in the near term,euros are a good thing to be holding for next three to six-months.Eurobonds have benefited as it has become increasingly evident they are the Russian government's priority among its traded debt,officials have reiterated Russia will pay the remaining $1.2b.it owes in Eurobond coupon payments by the endofthe year.Atthe moment,the government is meeting mostof its debt servicing obligations,including debt payments to the IMF and other multilateral lenders,through the central bank's hard currency reserves.Net reserves were $10.8b.on April 16, little more than $6.0 billion of which was in cash.With the government due to make more than $2.0b. in payments to the Fund and more than $700b.in Eurobond payments by July,a skimpy IMF loan will force the government to dive further into its reserves,the government probably would use a combination of reserves and currency controls to meet its payment priorities. They will run down reserves and will continue strangling the foreign exchange market,next year,things will be reconsidered.
Wed Apr 28 11:47:16 EDT 1999
anonymous: The Ruble will never be devalued! Boris Yeltsin August, 1998
Wed Apr 28 11:47:58 EDT 1999
PILLX: 2.At the moment,the government is meeting most of its debt servicing obligations,including debt payments to the IMF and other multilateral lenders,through the central bank's hard currency reserves.Net reserves were $10.8b.on April 16, little more than $6.0 billion of which was in cash.With the government due to make more than $2.0b. in payments to the Fund and more than $700b.in Eurobond payments by July,a skimpy IMF loan will force the government to dive further into its reserves,the government probably would use a combination of reserves and currency controls to meet its payment priorities. They will run down reserves and will continue strangling the foreign exchange market,next year,things will be reconsidered
Wed Apr 28 11:48:03 EDT 1999
PILLX: 1.PAST gains could make Russian Eurobonds ripe for profit-taking in the near term,euros are a good thing to be holding for next three to six-months.Eurobonds have benefited as it has become increasingly evident they are the Russian government's priority among its traded debt,officials have reiterated Russia will pay the remaining $1.2b.it owes in Eurobond coupon payments by the end of the year..
Wed Apr 28 11:49:44 EDT 1999
anonymous: 04-28-99 Anonymous: The Ruble will never be devalued! Boris Yeltsin August, 1998 GO SHORT,BOY,SHORT!
Wed Apr 28 11:53:47 EDT 1999
anonymous: We should not forget that many underestimated Russia before,many underestimate Russia still today,but they are much more capable like some posters,German or others believe.it is quite understandable that some Germans are not too fond of Russia,seen their defeat 55yrs ago.Nevertheless one must not be lead by sentiments,everyone must make his own judgements.
Wed Apr 28 11:56:45 EDT 1999
anonymous: **postings will be mile long**. we all are eager to read your postings. i second wally. GO OPTIMIST GO!
Wed Apr 28 11:58:06 EDT 1999
anonymous: *GO SHORT,BOY,SHORT!* wichser!
Wed Apr 28 11:59:37 EDT 1999
anonymous: ***Germans are not too fond of Russia***??? we love russia!!!!!
Wed Apr 28 12:00:53 EDT 1999
anonymous: ***Ruble will never be devalued!*** noch ein wichser!!!
Wed Apr 28 12:02:03 EDT 1999
anonymous: ***die rubbler werden nicht alle*** und die wichser im quadrat!
Wed Apr 28 12:04:43 EDT 1999
anonymous: realize somding? zee chermans finished vorking and zay are in ze net giffing zair kommenz.
Wed Apr 28 12:05:45 EDT 1999
Savonarola: Anon, the best thing Russia has done in the last 12 months was to devalue the rouble and stop kidding themselves through the GKO market. So I can't understand why you insist with Yeltsin saying they would not devalue. Now Russia exports more and imports less. Hopefully one day that surplus will stay in the country. But unless you have a surplus you can't keep it(ie. Brazil, Argie, Mexico..etc..). As somebody say, to win a race first you have to finish. I said it before. Russia had a Financial crisis. The GKO party run out of participants willing to stay and the banks went bust. The Economy, on the other hand, is doing better. I saw it. People now buy Russian products. Tycoons do not buy anymore houses in Marbella, and even Potanin has been ousted of Sidanko. There are moments when devaluations help (UK 92, Brazil 99). As for the Euros vs the IANs....forget the IANS. The Russians do not want to pay them...so why to argue about it...w'll see what comes out of them after the restructuring...then we might buy them...
Wed Apr 28 12:07:05 EDT 1999
anonymous: ***zee chermans*** und ein ober-haupt-wichser hoch siebzehn. 6 mathe macht nichts. hauptsache du verstehst.
Wed Apr 28 12:12:18 EDT 1999
Savonarola: Anon: I don't understand why you keep repeating that Yeltsin promissed not to devalue. Devalueing and calling off the GKO party were the best things Russia did. Now Russia exports more and imports less. Hopefully one day that surplus will stay in the country. But you can't keep it unless you have it (brazil and Argie can't). You can't win a race unless you finish. Now people buy russian. I said it before. Russia had a financial crisis when nobody else wanted into GKOs below 200% and bankls went bust. As for the economy they are better off. Now people buy russian, tycoons go to jail and don't buy houses in Marbella anymore and even Potanin is ousted from Sidanko...this is called realeconomics..the first step towards recovery...
Wed Apr 28 12:24:33 EDT 1999
NewAtBonds: Just subscribed with Bradynet. I understand stocks well but learning about Bonds. If someone can help me with the following. 1) Are all the issues on this site *Brady Bonds* ie principle is guarnteed by US zeros @ maturity? 2)Interest is paid every 6 months according to yield. How do you find out if int. payments were defaulted on before? My invest strategy is to buy long term bonds, not risk principle and not worry if I'm going to get my semi-annual interest payments.
Wed Apr 28 13:51:58 EDT 1999
Dyadya Venya: HMMMM, not risk principle, not worry about coupons....I think you have signed up for the wrong site bud! Most securities discussed on this page are from Non-Investment grade (ie more risky - worry producing) sovereign credits. For the most part the more liquid of these assets are "Brady Bonds" which were issued in major swap/restructurings of defaulted sovereign bank loans - so...all bradies come from credits that defaulted. Some bradies have principle collateral (pars and discounts) and some dont (C-bonds, DCB's). Globals and Eurobonds don't and were new issues. Good luck.
Wed Apr 28 13:55:53 EDT 1999
anonymous: 04-28-99 Savonarola: (194.112.56.38) Anon: I don't understand why you keep<<Sarive, the first step to recovery will be a major fiscal adjustment. Not defaulting on MinFins, London Club or Paris Club debt. In fact, the Russian strategy seems to be do everything what they are supposed to be doing. Extrapolating your scenaro, Russia will be out of reserves by Q3 even with the $2 Bn IMF deal. July coupies at risk unless Russia makes the reforms. When this happens, I will buy, buy, buy, as Cheetah says. Until then I watch the market rise on dreams and fumes and wait for the trade back to 29. Eurobonds are down 4-6 points in the past 3 days. Is that profit taking or is that risk of nonpayment increased? Help me, Sarvie with you realeconomics, please?
Wed Apr 28 14:11:36 EDT 1999
anonymous: moinevvemoinevve wannst aanä aus Hesse is! Basically Savona is right,but there may be some price slumps in between,however lets keep in mind NO DEFAULT ON EUROs
Wed Apr 28 14:16:14 EDT 1999
anonymous: Help me, Sarvie with you realeconomics, please? I WILL TRY TO EXPLAIN TO YOU:WE ARE DEALING WITH VERY SPECULATIVE SECURITIES AND YOU DO NOT WANT TO RECOGNIZE THIS.IF YOU WANT TO BUY RUSFED OR NOT YOU MUST KEEP IN MIND THAT ITS A RISKY INVESTMENT,WHERE THERE IS NO GUARANTEE,ANYTHING ELSE IS WISHFUL THINKING.
Wed Apr 28 14:29:38 EDT 1999
anonymous: 04-28-99 Anonymous: Help me, Sarvie with you realeconomics, please? I WILL TRY TO EXPLAIN << Yes, but Sarive, you said the RF Eurobonds will be at 80 by year end. Did you mean 80 rubles? If it is risky, do you mean default risk? It doesn't sound like it when you speak. If there is no risk of default, why does it trade at 3000 bps?
Wed Apr 28 14:34:56 EDT 1999
anonymous: Sarvie, Just tell me? WIll Russia implement the reforms that the IMF demands, which, by the way, they have failed to do over the past 5 years. Or will the rift between the Duma and Yeltsin and the parlimentary elections in the fall block any meaningful reform effort? If the former, no default and RF Euros end year at 60-70; if the later, default on Eurobonds in July and prices down to 10-15. This is what we are faced with. No IMF/Balkans bailout. No wishful thinking. Just basic political economy. That is it! Right, Sarvie?
Wed Apr 28 14:44:53 EDT 1999
anonymous: IF YOU WANT TO BUY RUSFED OR NOT YOU MUST KEEP IN MIND THAT ITS A RISKY INVESTMENT,WHERE THERE IS NO GUARANTEE,ANYTHING ELSE IS WISHFUL THINKING. rgds.Fred
Wed Apr 28 14:46:01 EDT 1999
anonymous: . Just basic political economy,NO ITS SPECULATION
Wed Apr 28 14:48:21 EDT 1999
anonymous: MOSCOW, April 28 (Reuters) - Russia rushed on Wednesday to prepare bank, tax and other reform proposals that would be approved quickly by the Communist-dominated parliament but also be stiff enough to prise fresh cash from the International Monetary Fund.LOOK AT THE LEFT SIDE,HOWEVER IF YOU THINK YOU KNOW EVERYTHING IN LIFE YOU MIGHT BE A PROPHET
Wed Apr 28 14:50:13 EDT 1999
anonymous: Speculation is the art of taking calculated risks. To calculate, you must analyze. To analyze, you must look at politics and economics. Or do they not matter? Why not buy MinFin 3s?
Wed Apr 28 14:58:54 EDT 1999
Cheetah: My friends all this news... my feeling is time to accumulate - across the board !
Wed Apr 28 15:05:04 EDT 1999
anonymous: "the rouble was not devalued - it is the US dollar that has overvalued" yeltsin
Wed Apr 28 15:05:25 EDT 1999
Spadolini: did I understand correctly, Cheetah, even time accumulate your beloved RF18? rgds.
Wed Apr 28 15:05:26 EDT 1999
anonymous: OTC - One Trick Cheetah. There you go again!
Wed Apr 28 15:12:00 EDT 1999
anonymous: NewATBonds: all emerging market securities have guaranteed principal, by the issuer. Some recommendations: Soviet Debt IAN's & Prin's, Ahmsa and Bufete in mexico, Alpargatas and UNB/Medefin in argi, good luck every six months. Sgt. Pepper
Wed Apr 28 15:17:31 EDT 1999
anonymous: ORC - all the way to the bank...
Wed Apr 28 15:21:42 EDT 1999
Cheetah: March industrial production UP 1.4% ? Consumer demand UP 5 % ? Is that RUSSIA ? How can it be , with all the doom and gloom... hmmm must be a good time to say BYE Bye bye to shorts and hi Hi BUY! to the Russian Euros (maybe the 18 is not the cheapest now)
Wed Apr 28 15:24:15 EDT 1999
anonymous: Hi friends, for all who want to see our friend RALFIE live on N-TV, tonight's the night: at 22.15 CET on Telebörse. Let's have some fun!!!
Wed Apr 28 15:35:33 EDT 1999
anonymous: any idea how much ralf has to pay to NTV to be on air?
Wed Apr 28 15:41:40 EDT 1999
anonymous: Nothing, they love psycho trasvestites like him !!!
Wed Apr 28 15:44:43 EDT 1999
anonymous: analysis, not insults!
Wed Apr 28 15:46:18 EDT 1999
anonymous: sorry
Wed Apr 28 15:46:22 EDT 1999
anonymous: Speculation is the art of taking calculated risks. To calculate, you must analyze. To analyze, you must look at politics and economics. Or do they not matter? Why not buy MinFin 3s? WRONG BABY,DEADLY WRONG,BECAUSE INFORMATION IS RUINATION,GOTTA SMELL THE DEAL OR LOOK FOR ANOTHER JOB,ANALYST
Wed Apr 28 15:46:44 EDT 1999
anonymous: Cheat: I like the Russian 18, also. Buy Russian Euros at 18!!! I can assure you, you will a chance again! Watch how the market tanks after the IMF deal is announced.
Wed Apr 28 15:48:19 EDT 1999
anonymous: WRONG BABY,DEADLY WRONG,BECAUSE INFORMATION IS RUINATION,GOTTA SMELL THE DEAL OR LOOK FOR ANOTHER JOB,ANALYST << hope is smells better than this site.
Wed Apr 28 15:49:31 EDT 1999
anonymous: <GOTTA SMELL THE DEAL> ?????? - speculating is an ART that requires critical thinking, smelling aka trading by instinct is for the amateurs or scam artists.....
Wed Apr 28 15:52:56 EDT 1999
anonymous: speculating is an ART that requires critical thinking, smelling aka trading by instinct is for the amateurs or scam artists..... CAN'T COMPLAIN,BABY,SMELLING GOT ME THE BRZC AT 46,THE VEN18 AT 66,UKR AT 44,AND RUSFED AT 18/29/31.YOU KEEP ON ANALYZING AND YOU BE BROKE IN 1YR
Wed Apr 28 15:53:17 EDT 1999
wally®: NewAtBonds: <not risk principle and not worry> the choice is yours. run as fast as you can away from this site or stay, study, submit your questions (preferably ONE at a time) and try to evaulate the dozen different answers you receivefor each question. all OTHERS let's promise not to make fun of NAB since we all started once from the scratch.
Wed Apr 28 15:54:32 EDT 1999
anonymous: He will not be broke because he owns nothing,just a big mouth
Wed Apr 28 15:56:09 EDT 1999
anonymous: He will not be broke because he owns nothing,just a big mouth MESSAGES MIXED UP,NOT ABOUT NAB,BUT ABOUT KNOWITALLANALYST
Wed Apr 28 15:56:37 EDT 1999
anonymous: all OTHERS let's promise not to make fun of NAB since we all started once from the scratch.<>>>> Wally to quote Will Rogers: "I don't fear what you don't know, I fear what you do know, that just ain't so".. NAB much better off than most on this site!
Wed Apr 28 15:58:06 EDT 1999
wally®: Spadolini: aCCCumulate and clip. jedenfalls so aehnlich.
Wed Apr 28 15:58:21 EDT 1999
anonymous: RIGHT,FRIEND,ABSOLUTELY RIGHT,rgds Fred
Wed Apr 28 15:58:35 EDT 1999
anonymous: CAN'T COMPLAIN,BABY,SMELLING GOT ME THE BRZC AT 46,THE VEN18 AT 66,UKR AT 44,AND RUSFED AT 18/29/31.YOU KEEP ON ANALYZING AND YOU BE BROKE IN 1YR << Yeah but you bought Russian Globals at 90, C's at 80, Dcbs at 78.... C and I dog!
Wed Apr 28 16:00:05 EDT 1999
anonymous: Cheetah is right,rgds.Fred
Wed Apr 28 16:02:13 EDT 1999
anonymous: Sorry, friends. Not going to finance Russia' gap so Euros can be paid. Annoncement any moment now. Haven't you been listening? Yours, Stan Fisher
Wed Apr 28 16:02:15 EDT 1999
anonymous: Yeah but you bought Russian Globals at 90, C's at 80, Dcbs at 78.... C and I dog! NO,SWEETIE,I DIDN'T,LOOKS THAT YOU ARE JEALOUS CAUSE YOUR SHORT WENT BUST,SINCE 3 DAYS OBSESSED WITH OTHER PEOPLE'S BONDS
Wed Apr 28 16:05:33 EDT 1999
anonymous: Romania and Pakistan have been tipped as possible countries which could include Eurobond restructuring in their lending programs with the fund.
Wed Apr 28 16:09:05 EDT 1999
wally®: Will Rogers used to talk and still talks a lot of BS, BUT he warned in 1997 and was right about russia.
Wed Apr 28 16:10:21 EDT 1999
anonymous: Will Rogers warned about ALL EMarkets
Wed Apr 28 16:15:45 EDT 1999
wally®: <romania and pakistan have been tipped as possible countries which> and i have been TIPPED as a POSSIBLE victim by my wife which COULD mean she has INTENTIONS to POTENTIALLY force me to drive her car through the car-wash EVENTUALLY if i don't find an VALID excuse in the small print of our contract.
Wed Apr 28 16:30:47 EDT 1999
anonymous: WASHINGTON, April 28 (Reuters) - Russia is close to clinching a lending deal with the International Monetary Fund, Russian negotiators said on Wednesday, but the size of the potential loan is still a mystery. Well informed sources believe that participants of BRADYNET are working on the exact amount and terms how to disburse. "We do not have any special problems except for the poor Lewinskys," said Finance Minister Mikhail Zadornov, a member of a Russian delegation holding talks with the IMF and World Bank in Washington this week. "We are finishing our papers."
Wed Apr 28 16:31:01 EDT 1999
anonymous: Sorry, friends. Not going to finance Russia' gap so Euros can be paid. Annoncement any moment now. Haven't you been listening? Yours, Stan Fisher IF YOU READ THE WHOLE TEXT,MISCHIEVOUS BOY,THEN YOU WILL COME TO A DIFFERENT CONCLUSION.VOLKSHOCHSCHULE SOLLTE DIR DOCH HELFEN,DEPP
Wed Apr 28 16:31:04 EDT 1999
anonymous: here we go again with edited quotes !!!, at least have the decency to show the article's heading : <LONDON, April 28 (Reuters) - Pakistan's Eurobonds were firmer in London trading on Wednesday after the Group of 10 leading industrial nations released a statement Tuesday saying sovereign borrowers should honour existing bond contracts.> unless you need to take words out of context to press your point.
Wed Apr 28 16:42:58 EDT 1999
wally®: edited or out of context quotes are the weapons of the ignorants. only clearly funny ones are acceptable.
Wed Apr 28 16:43:51 EDT 1999
anonymous: maybe Stan doesn't know how to read ?
Wed Apr 28 16:45:01 EDT 1999
anonymous: Warum hab ich immer den Eindruck daß da schon wieder der kleine RalfieRubbler zugange war?
Wed Apr 28 16:47:56 EDT 1999
anonymous: ¿what mean rubbler? tofu
Wed Apr 28 16:55:12 EDT 1999
anonymous: wanker!Please excuse the remarks.
Wed Apr 28 17:19:08 EDT 1999
anonymous: tofu: rubbler = some kind of "sukebe mura no soncho san" who has pleasure with himself.
Wed Apr 28 17:48:42 EDT 1999
Cheetah: Plan to SWAP Soviet era bonds for new BOND with progressive guarantee from cash proceeds on sales of Soviet era assets HAS BEEN ACCEPTED IN WASHINSKY !
Wed Apr 28 18:07:46 EDT 1999
anonymous: this site should not be called THE COLOR OF THE MARKET, but instead should be called THE COLOR OF RUSSIA.
Wed Apr 28 18:11:54 EDT 1999
anonymous: Not if you read the left side of the page.
Wed Apr 28 18:15:36 EDT 1999
anonymous: <<this site should not be called THE COLOR OF THE MARKET, but instead should be called THE COLOR OF RUSSIA.>>Hi,Mr.Jealous posting again.Bad feeling when a short went wrong,TRY AGAIN!
Wed Apr 28 18:20:42 EDT 1999
anonymous: "Brazil returned to international capital markets with a $2 billion global bond launch last week after a prolonged absence due to general panic about emerging markets. The launch was followed by a $1 billion Brady bond swap on Wednesday. " Now that the bonds are in hands of the investors see it come down.
Wed Apr 28 18:24:30 EDT 1999
anonymous: Russia knows that the ruble turns to rouble if IMF announces deal less than 3 b.. and eurobonds converge on prins.
Wed Apr 28 18:27:00 EDT 1999
anonymous: Thanks Wally, Savaralona, Cheetah and Mr. Pillx your comments and suggestions helped us reach a preliminary agreement with the Russian mission, we know they also consulted the Colour of the Market, and also express their gratitude. Michel Bob & Larry
Wed Apr 28 18:27:31 EDT 1999
anonymous: WASHINGTON, April 28 (Reuters) - Russia and the International Monetary Fund have agreed the text of a new lending deal and payments can start after Russia meets conditions in the document, a Russian official said Wednesday. Anton Surikov, spokesman to Russian economy chief Yuri Maslyukov said IMF experts were meeting with Russian Finance Minister Mikhail Zadornov to finalize the size of the loan. Zadornov was quoted having said "i hope the size of the loan is not equivalent to the Lewinskys who and which were very disappointing".
Wed Apr 28 18:30:53 EDT 1999
anonymous: 04/28 17:40 *RUSSIA, IMF AGREE TEXT OF LOAN AGREEMENT WASHINGTON, April 28 (Reuters) - Russia and the International Monetary Fund have agreed the text of a new lending deal and payments can start after Russia meets conditions in the document, a Russian official said Wednesday. Anton Surikov, spokesman to Russian economy chief Yuri Maslyukov said IMF experts were meeting with Russian Finance Minister Mikhail Zadornov to finalize the size of the loan to insure Wally and Cheetah receive their Eurobond payments. This is major roadblock with senior IMF officials, however.
Wed Apr 28 18:31:56 EDT 1999
Cheetah: I prefer stringent conditions, but you lose the point my short friend === the IMF is AGREEING to give funds === this is a whole NEW BALLGAME... just buy and if prices are lower in the next couple of days BUY more aggresively...
Wed Apr 28 18:34:42 EDT 1999
anonymous: Cheat: look at the story below your last post. Man, you and Wally must know someone in the IMF!
Wed Apr 28 18:35:44 EDT 1999
anonymous: Cheetah, Definitely a new ballgame. IMF ain't gonna bail us out anymore.
Wed Apr 28 18:36:39 EDT 1999
anonymous: chermanns haff you gone to bed? good! now i can pull some american legs. anybody out there? grüezi miteinand- yours unfaithfully the one and only gnom vo zueri.
Wed Apr 28 18:37:35 EDT 1999
Cheetah: to "major roadblock": IMF officials were delighted by their escape last night to Au Bar, they have been Gentlemen in their appreciation and support of our SAVE the EUROBONDS cause.
Wed Apr 28 18:39:53 EDT 1999
anonymous: http://www.imf.org/russia/bailout/eurobonds/wally/cheetah
Wed Apr 28 18:41:14 EDT 1999
anonymous: this site is getting better every day.
Wed Apr 28 18:44:05 EDT 1999
anonymous: SAVE the EUROBONDS cause. < CHeetah: is this a new crusade by the "Greens" in germany. or just greenmail from greenpiece?
Wed Apr 28 18:45:47 EDT 1999
cheetah: Cmon - recognize it: THE BONDS HAVE BEEN SAVED ! (if they were ever at risk)... Initial amount 2.5bb with a couple more after that... place your bets
Wed Apr 28 18:46:06 EDT 1999
anonymous: NEW YORK, April 28 (Reuters) - French Finance Minister Dominique Strauss-Kahn said on Wednesday Europe must and can improve regional growth but laid most of the blame for the world's sluggish economy on those who do not believe in Wally and Cheetah. "The real solution of the problem is in BRADYNET," Strauss-Kahn said in remarks at a EUROPLACE conference.
Wed Apr 28 18:48:54 EDT 1999
anonymous: it's called "legreenski at Au Bar" magically performed .. BONDS ARE SAVED ! SAVE THE BONDS !
Wed Apr 28 18:49:31 EDT 1999
anonymous: WASHINGTON, April 28 (Reuters) - Mexican Finance Minister Jose Angel Gurria said on Wednesday that his country will sign $1 billion in new loans with the World Bank in the next few days, and projects worth another $2-3 billion are under study and shall be approved provided OMAR supports the motion. Gurria discussed a range of new and existing projects for Mexico with World Bank president James Wolfensohn during the IMF/World Bank Spring meetings.
Wed Apr 28 18:51:23 EDT 1999
anonymous: 04/28 13:48 Emerging bonds edge lower, market takes breather NEW YORK, April 28 (Reuters) - Emerging market bond prices declined slightly Wednesday in what traders and analysts said was a was a correction caused by Wally and Cheetah having drinks at AuBar with Spanky. They were both arrested for soliciting and selling short a female impersonator. Bail was set in Russian Eurobonds.
Wed Apr 28 18:53:37 EDT 1999
anonymous: you're cracking me up, but I gotta go... SAVE the BONDS !
Wed Apr 28 18:54:04 EDT 1999
anonymous: Look what Bill Clinton has done to us.
Wed Apr 28 18:55:02 EDT 1999
anonymous: finissez cette comédie!
Wed Apr 28 18:55:59 EDT 1999
anonymous: to us ? to the kosovar's - it should be criminal the miscalculations
Wed Apr 28 18:59:35 EDT 1999
anonymous: MOSCOW, April 28 (Reuters) - Russia's finance ministry and central bank on Wednesday said they would resolve all outstanding debt issues in its domestic debt swap plan, based on a new strategy developed by Savonarola. Thursday's edition of Izvestyia Daily quotes unnamed sources that Savonarola will receive the soviet era Gobble Prize.
Wed Apr 28 19:02:40 EDT 1999
anonymous: frenchie or québecois. you no like YOU get out. this is serious business.
Wed Apr 28 19:05:44 EDT 1999
anonymous: Whatever it is. I never did done do it. this is all a rightwing conspiracy. Bill Clinton
Wed Apr 28 19:09:51 EDT 1999
anonymous: WASHINGTON, April 28 (Reuters) - Russia must force a new economic plan designed by Savonarola, which creates hard currency reserves out of nothing, through parliament before it can win badly needed loans from the International Monetary Fund, Russian and IMF officials said on Tuesday. The conditions will mean delays of at least two months before Russia gets it first cash injection, even if an economic reform program backing the loan is agreed this week. ``We are not far from an agreement and I personally want to reassure wally® and Cheetah that the IMF board and its G7 members are committed to principle that they get paid their Russian Eurobond interst payments,'' IMF Managing Director Michel Camdessus told a news conference at the fund's semi-annual meeting. In an unrelated matter, the IMF board approved Argentina's plan to ruble-ize their economy. The plan was designed by the world famous economist, Savonarola.
Wed Apr 28 19:12:58 EDT 1999
anonymous: MOSCOW, April 28 (Reuters) - Russia's finance ministry on Wednesday said a much-criticised restructuring of defaulted domestic debt was effectively over, although analysts said the difficulties caused by Pillx and Bradynet were just beginning as the demand for bonds issued by the Ministry of Finance (a.k.a. MINFINS) exceeded supply by a ratio 1,000,000 : 1. Analysts blame the dearth of supply to published yields which have been exaggerated.
Wed Apr 28 19:26:57 EDT 1999
anonymous: IMF To Resume Lending to Russia Associated Press Online - April 28, 1999 19:24 By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) - The International Monetary Fund announced Wednesday it had reached an agreement in principle with Russia on a new economic reform program that will allow the agency to resume lending to the country. <<<SELL THE NEWS!!!
Wed Apr 28 19:53:15 EDT 1999
anonymous: http://www.imf.org/external/np/sec/nb/1999/NB9921.HTM Deal is $3 Bn from June 99- June 2000; and $1.5 Bn from June-Dec 2000. Total is $4.5 Bn over 18 months. Russia owes IMF $9 bn during this period.
Wed Apr 28 19:58:22 EDT 1999
anonymous: The amount is positive, $4.5 bn, but over 18 months makes the IMF a net taker of $5 bn over this deal. A very tight stretch.
Wed Apr 28 20:10:41 EDT 1999
wally®: this site is better than star-trek. GR: good job!
Wed Apr 28 20:13:33 EDT 1999
wally®: <A very tight stretch> fully agree, but nobody expected more (including the optimistic ones).
Wed Apr 28 20:17:30 EDT 1999
wally®: <IMF a net taker> that remains to be seen. main objective now is duma legislation; foundation is poured for WB, PC and LC "new" agreements.
Wed Apr 28 20:25:57 EDT 1999
anonymous: how can i sell the news? tofu
Wed Apr 28 20:29:00 EDT 1999
wally®: tofu: no listen to anybody who makes 3 !!! only listen to 1 ! if you tell us what your country we can help better.
Wed Apr 28 21:20:56 EDT 1999
PILLX: http://dailynews.yahoo.com/headlines/ap/international/story.html?s=v/ap/19990428/wl/imf_russia_4.html
Wed Apr 28 21:27:11 EDT 1999
PILLX: http://biz.yahoo.com/rf/990428/b2i.html
Wed Apr 28 21:42:31 EDT 1999
PILLX: 2.Mr. Camdessus' goal, for instance, was to work out which economic policies -- such as tax increases and bank reforms -- the Russian parliament will have to approve before the IMF board votes on the new loan. Even once a general deal is struck, negotiators will still have to spend days or even weeks working out the details.The G-7 believes "Russia's return to macroeconomic stability and growth is possible only in the context of a viable fiscal program, significant improvements in government revenues and progress in institutional and structural reforms," said Deputy U.S. Treasury Secretary Lawrence Summers.The IMF's conditions could help deflect criticism that the fund's motives are more political than economic. And the small size of the loan -- less than the $3.8 billion that Russians owe the IMF this year -- is another reminder that the G-7 wants to see economic progress before risking larger amounts.
Wed Apr 28 21:42:36 EDT 1999
PILLX: 1.The deal,which would likely provide Russia with just enough new IMF money to pay debts to the IMF itself,is seen as key to keeping the country financially afloat through December parliamentary elections, and presidential balloting scheduled for June 2000.The goal is "to help Russia so that it is in the best possible shape after the elections, so the new government, with a new majority, will be better able to go on handling the problems," said French Finance Minister Dominique Strauss-Kahn. The G-7 and IMF heard some encouraging news about Russia's economic output this week, but they have still been careful to insist that Russia adopt reasonably tough economic reforms. "The conditions are the same, or almost the same, as what would have been done without Kosovo," said Mr. Strauss-Kahn
Wed Apr 28 21:53:11 EDT 1999
PILLX: http://biz.yahoo.com/rf/990428/b61.html
Wed Apr 28 21:55:16 EDT 1999
PILLX: ``If the Duma (lower house of parliament) will make a decision that we need to pay what is due in the second quarter -- it's approximately $2.5 billion -- we should pay,'' he said ???????????????????????????????????????????????????????????????
Wed Apr 28 22:11:32 EDT 1999
PILLX: WALLY where are you please coment ++New IMF money also is crucial for planned debt rescheduling agreements between Russia and its creditors. Russia wants more time to pay billions of dollars of debts inherited from the Soviet Union. Gerashchenko said Russia was paying post-Soviet debts -- including eurobonds and IMF loans -- and would continue to do so if parliament approved. ``If the Duma (lower house of parliament) will make a decision that we need to pay what is due in the second quarter -- it's approximately $2.5 billion -- we should pay,'' he said. ++
Wed Apr 28 22:17:56 EDT 1999
PILLX: WALLY stop a few sec. the LAGAVULIN and comment
Wed Apr 28 22:35:30 EDT 1999
anonymous: 04-28-99 Anonymous: how can i sell the news? tofu << Call Cheetah, he is a buyer of everything.
Wed Apr 28 22:45:18 EDT 1999
anonymous: Russia wants more time to pay billions of dollars of debts inherited from the Soviet Union. Gerashchenko said Russia was paying post-Soviet debts -- including eurobonds and IMF loans -- and would continue to do so if parliament approved. "If the Duma (lower house of parliament) will make a decision that we need to pay what is due in the second quarter -- it's approximately $2.5 billion -- we should pay," he said. < The Duma has to approve the Eurobond payments? Please help out someone?
Wed Apr 28 22:51:53 EDT 1999
anonymous: I think he is worried that $2.5 bn must come out of reserves as no official sector money will be released. That will take hard currency reserves down to about $3 bn by the end of June and a big risk to the ruble and a disaster if the Duma fails on the rest of the economic package. This is going to be interesting.
Wed Apr 28 22:56:44 EDT 1999
anonymous: It smells ralfishy around here.
Wed Apr 28 23:09:11 EDT 1999
wally®: pillx: lagavulin has not yet arrived. drinking still el cheapo. gerashchenko comments indicate that he is either full of sh.. and/or stolnichnaya or there was some misinterpretation. duma approving payments? guess i have to study russian and do my own translations.
Wed Apr 28 23:13:53 EDT 1999
PILLX: Gerashchenkovodca

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