HALISTER1: Province of Saskatchewan - DBRS Rating Report

Province of Saskatchewan - DBRS Rating Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

Tickers
80459Z CN (Province of Saskatchewan Canada)

People
Travis Shaw (DBRS Ltd)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Issuer Focused Research

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UUID: 7947283

HALISTER1: BoFAML Buys India, Indonesia Bonds as EM Rally Matures

BoFAML Buys India, Indonesia Bonds as EM Rally Matures

(Bloomberg) -- Bank of America Merrill Lynch strategist Claudio Irigoyen remains constructive as EM fundamentals are well grounded but turns more cautious as EM rally is maturing, according to e-mailed note.
  • Likes India 5y and Indonesia 15y debt on attractive yields and low exposure to China
  • In FX, has a bias for short CNY and KRW as positioning is clean and represents an efficient hedge to geopolitical risks
  • Likes steepeners in Turkey on risk premium compression; extends duration in Ukraine USD as the curve is steep. Carry in RUB remains “attractive.” Pays 5y CZK rates and buy 5y bonds vs swaps in Hungary
  • In LatAm, likes Peruvian bonds; In Brazil and Mexico, likes steepeners and within receivers prefers real to nominal rates
    • In FX, recommends selling BRL/ARS and CLP/COP. Both trades benefit from positive carry. Keeps a bias to long USDMXN.

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Claudio Irigoyen (Bank of America Corp)

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UUID: 7947283