Costa Rica, Panama pounce on duration rush

Investor confidence that low interest rates are not likely to change soon allowed Costa Rica and Panama to print long-dated bonds at low yields this week. Panama went for 40 years on Monday, while Costa Rica raised 30 year money on Tuesday. Both deals were heavily oversubscribed.

  • 26 Apr 2013
"Some of the lustre that wore off the 30 year deals at the start of the year has returned," said one syndicate banker on the Panama trade. "As equities raced higher in January, the yield curves steepened, so nobody wanted to be in fixed income instruments that were ...

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