Enron Mail

To:william.smith@enron.com, recipients@enron.com, brenda.aggar@enron.com,alhamd.alkhayat@enron.com, john.allario@enron.com, gunta.andrews@enron.com, martina.angelova@enron.com, aaron.armstrong@enron.com, harry.arora@enron.com, charles.baker@enron.com,
Subject:GMM 15 June 01
Date:Mon, 18 Jun 2001 03:36:00 -0700 (PDT)

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

Executive Summary=20

? US: Fed=01,s beige book reports cool results across the U.S. Lack of=20
inflationary pressures gives Fed wider maneuverability to cut rates at end =
the month. One Fed member says the economy is probably at or near the=20
bottom. Leader of a U.S. manufacturing organization (N.A.M.) says dollar=
overvalued as much as 30 percent.=20
? Europe: ECB trims its forecasts for GDP growth and lifts its inflation=20
expectations. Euro continues to languish although it received a bounce=20
following anti-strong dollar comments by the U.S. N.A.M. Spain urged by t=
OECD to open its power sector to competition. =20
? UK: New minister for Europe dampens rumors of an expeditious adoption of=
the euro in the U.K. =20
? Country Update - Brazil: Three principal causes for the present energy=20
crisis: limited investment, limited private sector participation, and=20
regulatory limitations to bringing on new power plants. Cardoso pledges t=
adhere to existing economic policy platform despite the energy crisis.=20

Thank you,
Maureen Raymond-Castaneda=20
and Gwyn Kopke