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Brady Bond Trading Recap

contributed by Credit Lyonnais Securities (USA) Inc.

Friday, April 7 2000

Daily Brady Bond Trading Commentary

The Emerging Markets finished the week in a positive mood having been reassured that the US economy remains buoyant and that inflation is not yet a worrysome ingredient in the expansion. The equity markets in Argentina, Brazil and Mexico all recorded gains and bond markets slowly moved higher although volume was light. Analysts will be looking closely at Peru on Sunday as President Fujimori and Alejandro Toledo contest the presidential election. Investors appeared optimistic with either candidate and took both equity and bond markets higher. The election polls indicate a dead heat. Overall, we remain bullish so long as the US economy remains strong. The correlation between the US markets and the emerging markets is a close one and, as the last week has demonstrated, any volatility in the US markets will be reflected south of the border.
This report was prepared by Credit Lyonnais Securities (USA) Inc. The information and statistical data herein have been obtained from sources we believe to be reliable but in no way are warranted by us as to accuracy or completeness. Returns set forth in this report are estimates based on internal assumptions, and any changes in these assumptions may have material impact on such estimated returns. This is not a solicitation or any offer to buy or sell securities. We, our affiliates, and any officer, director or stockholder or any member of their families, may have a position in and may from time to time purchase or sell any of the above mentioned or related securities.
 

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