Extinguishing statute of limitations and the dilemma of taking legal action. The PDVSA 2020 bond would be deemed as valid and CITGO would be protected. Trading ban relief for US agents is possible but needs a catalyst.
César Alexander Petit @ BancTrust & Co. 9 March 2023
Recent polls reaffirm hardliner María Corina Machado as the favourite to win opposition primaries. Machado leading a united opposition ticket could have negative implications for bonds. Lack of compromise and radicalisation could take negotiations to...
César Alexander Petit @ BancTrust & Co. 14 February 2023
The end of the “interinato”, a sad but necessary step. Primaries the only hope for a transition, in the context of limited political concessions by the regime. Bond prices to remain in limbo until more clear signs emerge on the electoral process.
César Alexander Petit @ BancTrust & Co. 16 January 2023
Our recently published Top 5 picks for 2023 featured a number of other trades to watch, or themes. These involve Argentina, Ukraine, Venezuela, Rwanda, Sri Lanka/Zambia, Uganda/Zambia, sovereign default risks generally. Most are high yield/distressed...
Stuart Culverhouse @ Tellimer Research 23 December 2022