According to an article in the Listin Diario, the Bear Stearns Central American and Caribbean Bond Index (BSCAX) fell nearly half a percentage point (0.45%) last month, partly due to poor performances by the Dominican Republic and Jamaica that showed negative numbers for the month. The numbers paint a dismal picture within the context of the bond risks in the emerging market areas, which, overall, grew 3.2 percent, owing to the solid performance of Brazil. According to the report for February, the Dominican Republic and Jamaica were each under intense pressures in that month, which greatly contributed to the index?s decline. The BSCAX tracks approximately US$12.6 billion worth of emerging market debts, including 36 bond issued in 10 countries throughout Central America and the Caribbean. Introduced on 14 January, the BSCAX shows growth of 1.31 percent for the year and so is still in positive territory. Bear Stearns gave the Dominican Republic a ?Market perform? rating and a risk rating of Ba2/BB-.