seemed not much affected by political events over thepast month. Right after Chernomyrdin’s dismissal, Russia had no troubleselling $700 million in D-mark-denominated bonds on international markets.Last week, the stock market index rose about 4%. After gaining 141% in 1996and 99% in 1997, the market is down about 22% since the beginning of theyear and off about 50% from its 1997 peak.