6 major banks (BofA, Citi, JPM, Barclays, Morgan Stanley, Wells Fargo) are waving red flags on Argentine bonds (GD35).
The Core Issues:
• Net reserves hit -$15B
• Uncertainty over "Cepo" (currency controls)
• Doubts on harvest liquidation (Agro-dollars)
Sentiment has shifted from "Buy the...
JP Morgan takes BuySellBA's recommendation to Exit Carry Trade Positions in Argentina
As we posted a few weeks ago, you will see BIG MONEY start exiting carry trade positions before the October mid-term election. It's happening even sooner than we thought.
JP Morgan delivers a notably...
Our company has forecasted last year once President Milei began that corporations will eventually expand operations in Buenos Aires. A lot of work still needs to be done including ending all currency controls (CEPO) but it will happen and you will see more and more companies expand or start...
Great news that the country risk for Argentina keeps going down.
Argentina’s country risk index, measured by JP Morgan, dropped below 1000 basis points for the first time since August 2019, reaching 992 points. This decline is attributed to capital inflows from asset disclosures, Central Bank...