From: leann.walton@enron.com
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Date: 2001-06-18 10:36:00+00:00
Subject: GMM 15 June 01

Please find attached the Global Markets Monitor for the week ending 15 June 
2001.


Executive Summary 

? US: Fed,s beige book reports cool results across the U.S.  Lack of 
inflationary pressures gives Fed wider maneuverability to cut rates at end of 
the month.  One Fed member says the economy is probably at or near the 
bottom.  Leader of a U.S. manufacturing organization (N.A.M.) says dollar 
overvalued as much as 30 percent. 
? Europe: ECB trims its forecasts for GDP growth and lifts its inflation 
expectations. Euro continues to languish although it received a bounce 
following anti-strong dollar comments by the U.S.  N.A.M.  Spain urged by the 
OECD to open its power sector to competition.  
? UK: New minister for Europe dampens rumors of an expeditious adoption of 
the euro in the U.K.  
? Country Update - Brazil: Three principal causes for the present energy 
crisis: limited investment, limited private sector participation, and 
regulatory limitations to bringing on new power plants.   Cardoso pledges to 
adhere to existing economic policy platform despite the energy crisis. 





Thank you,
Maureen Raymond-Castaneda 
and Gwyn Kopke