2000-01-13 Latin equity sentiment
Daily Brady Bond Trading Commentary
Thursday January 13, 2000
It was Latin equities that helped to drive sentiment in Latin debt for a change Thursday,
after the announcement by Spain's Telefonica that it would up its stakes in a handful of telcos in Argentina, Brazil and Peru to full ownership. U.S. Treasuries and equities boosted the market as well after the Producer Price Index came in exactly on expectations. Volume was once again moderate.
All eyes will be on the CPI release Friday morning, but the markets will also be digesting Fed Chairman Greenspan's comments to be delivered in New York this evening. If the news is friendly, the market should be able to build on Thursday's gains, but will also have to deal with a rush to issue debt ahead of the February 1-2 FOMC meeting.
Contributed by
Credit Lyonnais Securities (USA) Inc.
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