Halister News

(Bloomberg) -- With inflation slowing down and economy overcoming one of worst recessions in history, analysts see a sovereign issuance as a possibility for Brazil, given the favorable conditions available at the moment for emerging markets.

• NOTE: Brazil last issued sovereign bonds in March
• It’s the “right moment” for an issuance, Eric Vanraes, fixed-income portfolio manager at EI Sturdza Investment Funds, says in an email
  • Vanraes cites the success of recent operations by issuers including Chile’s Enap and Ukraine
• Carlos Gribel, head of fixed-income at Andbanc Brokerage, says in interview that he sees room for a sovereign offering, and any uncertainty that may arise from 2018 presidential election should not hurt investors’ interest in Brazil at the moment 
• Sovereign issuance is "certainly" an option, says Marco Saravalle, an analyst at XP Investimentos, citing recent overseas bond sale by Petrobras as a sign of interest in Brazil
  • Market could be already pricing in a possible sovereign rating upgrade for Brazil in the medium term

Original Story: Brasil conta com fundamento e liquidez para deslanchar soberano To contact the translator on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net Reporters on the original story: Patricia Lara in Sao Paulo at plara6@bloomberg.net; Ana Carolina Siedschlag in São Paulo at asiedschlag@bloomberg.net Editors responsible for the original story: Daniela Milanese at dmilanese@bloomberg.net Taís Fuoco