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BancTrust & Co. LAC Daily Comments 28 March 2023

Peru: Congress to vote on new presidential vacancy motion. Costa Rica sells USD1.5bn Eurobonds at a 6.55% yield. Panama: Martinelli’s lead in polls widens.
BancTrust & Co. Ramiro
Ramiro Blazquez @ BancTrust & Co. 28 March 2023

Vermilion Compass: Weekly Equity Strategy

Vermilion Research David
David Nicoski @ Vermilion Research 27 March 2023

Venezuela: Our views on 9 critical issues for bondholders

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.
BancTrust & Co. César Alexander
César Alexander Petit @ BancTrust & Co. 9 March 2023

Venezuela: Moderation, the essential ingredient for a feasible transition

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...
BancTrust & Co. César Alexander
César Alexander Petit @ BancTrust & Co. 14 February 2023

Venezuela: A key year for the opposition and for bondholders

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.
BancTrust & Co. César Alexander
César Alexander Petit @ BancTrust & Co. 16 January 2023

Seven trades to watch in 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...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 23 December 2022
Seven trades to watch in 2023
Seven trades to watch in 2023