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answer: Delivery Status Notification (Relay)
Sovereign Bond Spreads: =20 Significant New Issuance - Commentary: ?=09The emerging markets started the week on an extremely quiet note as inv= estors awaited more news from Argentina, in particular, on possible IMF sup= port for the country. The situation started to improve on Tuesday night aft= er Domingo Cavallo's speech intended to support domestic confidence, in whi= ch he reiterated that the Argentine government would not default on its deb= t payments. He also announced some special measures designed to reduce the = government's debt burden, such as an acceptance of bonds as payment for pas= t-due taxes and bond coupons for future tax liabilities. This announcement,= together with positive clues from the IMF about the possibility of a US$6.= 9bn disbursement to Argentina, helped the market to rally around 2.5 points= . However, the continued fall of international reserves and private sector = deposits, evidenced by the latest data release, did not contribute to reviv= e investor confidence and pulled the market down by around 1 point. In Turk= ey, the week was fairly busy with prices rising on the back of the successf= ul T-Bill auction and as a result of a technical short squeeze. Real money = accounts and local banks were active buyers of Turkish bonds helping the Tu= rkey 2030 benchmark to break through an important resistance level of 80. R= ussian market activity picked up on the positive news from Argentina, but t= he rally was not sustained and Russian bonds closed almost unchanged on the= week. Central and Eastern European assets had a positive week gaining arou= nd 0.25-0.50 points in price. Overall, the general sentiment in the emergin= g debt markets has improved but is still very much subject to stabilisation= in Argentina. The EMBI+ Index tightened around 20 bps on the week to at +8= 96 bps level on Friday. ?=09The United Mexican States (Baa3/BB+) placed a US$1.5 bn 8.30% issue due= 08/2031 on Monday. The bond was priced at a spread of +335 bps over Treasu= ries. The fact that a Latin American issuer was able to successfully place = such a large transaction is a good sign that the impact of the Argentine cr= isis is limited and has not shut down the primary market for borrowers. ?=09The Republic of Latvia's (Baa2/BBB) credit rating outlook was raised by= Standard & Poors from "Stable" to "Positive" reflecting an improved spendi= ng control and better perspective for GDP growth.
Q: What is a potential subject line for this email?
answer: Sovereign Bond Spreads, 10 August 2001
Deb and Marie, Each of you provided me with a list of authorized confirmation signatories earlier this month. However, while reviewing the confirmation documentation requested in conjunction with the paper and steel process audit we notice that the individuals listed below were not identified on the lists of authorized confirmation signatories we received. Could you please verify that the individuals listed below were authorized as confirmation signatories during the period January 1, 2001 through August 31, 2001. We would greatly appreciate it if we could receive this documentation as soon as possible as we are attempting to complete the process audit by Monday, October 29, 2001. If you have questions please contact me at X56955. 1. Greg Hermans 2. Raymond M. Bowen 3. Debbie Nicholls 4. Robert Crane 5. Brenda Herod 6. Lisa McClendon Thank you for your time and consideration. Mike D. *******************Internet Email Confidentiality Footer******************* Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message (or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such case, you should destroy this message and kindly notify the sender by reply email. Please advise immediately if you or your employer do not consent to Internet email for messages of this kind. Opinions, conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it.
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answer: Paper and Steel
Concerning the status of Cinnabar, Mr. Shumway and I are currently discussing requested changes in the Guaranty involving letters of credit and damages. We cannot agree to their suggested change in language to the Guaranty. Therefore as some of their transactions are for 30-60 days and they are looking at on line trading, I purposed for the short term a GISB. He agreed, and I will be sending our draft of same to him for review (I will include you in my e-mail). The issue of the Master is still open and I await his final response. I will keep you informed of Cinnabar's status.
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answer:
Cinnabar Energy Services & Trading, L.L.C.