The Bahamas: We find value in overstated short-term liquidity risks
The government’s cash position is likely to remain strong enough to pay off the 24s but long-term concerns linger
We base our scenario on conservative assumptions and see upside risks in the next months
We now recommend being long on the 24s and analyse a long 28s-short 32s strategy
Senior Economist @ BancTrust & Co.
Head of Research and Strategy @ BancTrust & Co.
