Morgan Stanley has turned neutral on El Salvador debt, arguing that there’s little room for gains after a 20% rally in recent months.
Simon Waever, the global head of emerging-market sovereign credit strategy, removed the bank’s “like” call on the Central American nation’s debt, according to a note published Monday. Some of the bonds are hovering around par for the first time in years, reflecting optimism over the government’s budget belt-tightening and the likelihood of a deal with the International Monetary Fund.
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Publish date : 2024-10-28 04:08:00
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