Argentina Debt Attractive After Moody’s Outlook Change: BofA
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Source: BFW (Bloomberg First Word)
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Jane Brauer (Bank of America Corp)
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UUID: 7947283
(Bloomberg) -- More positive rating actions expected, BofA strategist Jane Brauer writes in note.
- “External debt bonds have some potential to rally further if the search for yield backdrop remains and the government delivers on the fiscal and inflation consolidation”
- BofA remains overweight on Argentine debt, especially USD 21s to 26; prefers 21s for a more defensive trade and better carry
- Recommends lightening in local law bonds like Bonar 20 and 24, 3y and 30y global bonds
- “We see risks tilted to lower Argentina spreads in a scenario of more gradual US rate hikes, given positive news on the economy”
- NOTE: From March 6, Moody’s Raises Argentina Outlook to Positive
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Jane Brauer (Bank of America Corp)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283