SELLING BRADY BONDS RECOMMENDED

Business | June 29, 2001, Friday // 00:00

One of the world`s biggest investment banks, Bear Stearns, recommended to its clients yesterday to sell Bulgarian Collateralised Discount Bonds /DISCs/. Bulgaria`s Brady bonds rose considerably before and immediately
after the election but the upward trend been exhausted for the time being, an analyst of the bank said. Bear Stearns grounds its forecast on the fact that the Simeon II National Movement is one seat short to have an absolute majority in the new parliament, while a coalition with the UtDF, so desired by the western investors,
remains uncertain.

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