The Emerging Sovereign Research Department of Bear Stearns recommends selling Dominican bonds in its 15 September update on the Dominican Republic. Franco A. Uccelli, vice-president, reports today that the only positive economic news coming out of the Dominican Republic is that foreign-exchange generating sectors have benefited from the country’s misfortunes. He reports that “uneasiness about the country’s economic outlook, the ongoing energy crisis and the current electoral race appear to be driving local market sentiment again.” Uccelli refers to the peso’s appreciation after having settled in the RD$30 to US$1 range last week, and then reverting to its former volatility. Banks were buying pesos at RD$32 to US$1 today.