Sovereign Bond Spreads: =20 Significant New Issuance - CSFB Commentary: ?=09The emerging debt markets were less volatile this week following the st= abilization in the Argentine financial sector. Although there was no real p= rogress in improving the country's fundamentals, international reserves and= private sector deposits stopped falling, generating positive momentum for = the market. As a result, Argentina broke through an important 1400 resistan= ce level this week and the positive tone spilt over into other markets. The= Turkish Eurobond market had a very strong week supported by dramatic impro= vement in the local market: the Central Bank cut its overnight lending rate= from 62% to 60% after a successful T-Bill auction on Friday and local debt= yields declined sharply. Most of the Turkish curve was very well bid again= st the background of revived investor activity. The Turkey 2030 benchmark r= eached its high since the beginning of July at +935 bps spread on Thursday.= The Russian market also gained this week on the back of both the general E= M sentiment and local news on the incorporation of the "financial reserve" = (designed to accumulate US$1.8bn to help the government service its debt in= 2003) into the draft budget for 2002. Russian assets are now trading only = 1 point below their highs since the 1998 crisis. For Central and Eastern Eu= ropean assets this was a strong week with good demand especially for sovere= ign bonds, although there was no significant move in prices. Despite the ov= erall positive sentiment, Friday witnessed some weakening in all the emergi= ng markets, caused mainly by the technical factor of profit taking once the= market reached two month highs. The EMBI+ Index closed only 4 bps tighter = on the week at +882 bps after touching +861 bps during the Thursday session= . ?=09On its 30th August meeting, the European Central Bank lowered its bench= mark repo rate by ? point to 4.25%. European benchmark bonds reacted positi= vely to the announcement and now are pricing in at least another ? point ra= te cut this year. This is good news for issuers of *uro denominated bonds a= s the long awaited rate cut will lower European benchmark yields going forw= ard. ?=09Fitch upgraded the Republic of Estonia's rating to "A-" from "BBB+" on = Thursday reflecting its strong GDP growth, fiscal deficit reduction and goo= d fiscal prospects.
Q: What is a potential subject line for this email?
answer: Sovereign Bond Spreads, 31 August 2001
Pursuant to Lora Kinner's request, I am attaching our form master netting agreement. The lawyer who will be working with you is Anne Koehler (713/853-3448; anne_koehler@enron.com). She is out of the office at a seminar and will be returning on Thursday, November 29. Please let me know if you have any questions or need anything else.
Answer: Master Netting Agreement
Here is an email: Greetings Folks: Any chance of finalizing the California tariff Monday morning (have a call, say, 7:30/8:00 AM PDT)? Let me know. Hope all's well with all. Best,
What is a potential subject line for this email?
A: California Tariff
Q: Greg, As you may know, Brad Romine's dot.com venture fell apart. The offer from Enron looks much better now. I have arranged for him a number of different interviews (including one with you). I think we should not be too punitive and give him the 2nd chance. I am also setting up for him interviews with RAC and EBS and he should be able to negotiate a good first rotation. Please, give me a call if you have any other question. Vince Kaminski
Propose a subject line
A: Brad Romine
IN: Tom, Lamphier and Wallis had orig during the 1st Qtr but was classified as Gas Assets and not Middle Mkt Texas. These two have been classified as Gas Assets for quite a while now (back to Jan 2000). Danny and Elsa did not have any orig during the 1st Qtr. Dave

Generate a subject line.

OUT: Origination 1st Qtr
IN: This is an email
Jeff, Thought I bring this by you. Just happened to think about one of or the final episode for the building guy that would end up very appropriately when the new building is finished. How about, maybe near its completion, the building guy meets the "building girl", fall in love and marry on top of the Enron Building. The "two" (buildings) join as one and live happily ever after in Enron World. Could be a televised promotion. Just a thought, Robert

What is the subject?

OUT:
The Building Guy ( Just a thought)