  Hole and spin Green's functions of the two-dimensional t-J model of the Cu-O
planes are calculated in an approximation which retains the rotation symmetry
in the paramagnetic state and has no presumed magnetic ordering. In this
approximation Green's functions are represented by continued fractions which
are interrupted by decouplings with a vertex correction determined from the
constraint of zero site magnetization in the paramagnetic state. Obtained
results are shown to be in good agreement with Monte Carlo and exact
diagonalization data. The calculated spectra demonstrate a pseudogap and a band
splitting which are similar to those observed in Bi-based cuprate perovskites.
