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Brady Bond Trading Recap

contributed by Credit Lyonnais Securities (USA) Inc.

Friday, March 10 2000

Daily Brady Bond Trading Commentary

Emerging markets turned quiet ahead of the weekend and after a ten-day rally. While a bout of profit-taking does not worry us, we believe that the market will need to see a pick-up in institutional demand before it makes another significant break higher, especially if the flow of new issuance continues to be strong. We would not be surprised to see sluggish, range-bound trading ahead of the U.S. inflation data later next week.
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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