Brady Trading Recap

Emerging market debt prices fell Wednesday in thin trading. Some dealers joined fund managers on the sidelines as U.S. interest rates continued to rise ahead of inflation data releases on Thursday and Friday. With a large amount of bad news built in, mild inflation numbers could spark a violent bounce in Treasuries and EM debt. But unless perceptions of a concerned FOMC change, the market is likely to remain subdued into the February meeting, when more information will be available.

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Brady Bond Trading Recap

contributed by Credit Lyonnais Securities (USA) Inc.

Wednesday, January 12 2000