Articles

AMBITO FINANCIERO: “JPMorgan upgrades Argentine bonds to overweight”

In Uncategorized on March 3, 2010 by German Rivero-Zerpa

Argentina was raised to overweight in the EMBIG portfolio at JPMorgan Chase & Co., one day after President Cristina Fernández de Kirchner revoked the controversial DNU emergency decree No 2.010/09, which created the Bicentennial Fund for Stability and Reduced Indebtedness, and the Central Bank transferred USD 6.6 billion in foreign currency reserves to the Treasury for foreign debt payments, following two presidential decrees.

The American bank recommended “moving back to overweight by buying 2 million Boden ’15s at USD 77.10”, according to a report by Vladimir Werning, an economist at JPMorgan in New York.

“At current prices we believe that investors face an asymmetric pay-off,” Werning said.

“We therefore recommend moving back to overweight by buying 2 million Boden ’15s at USD 77.10,” Werning added.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: