LatAm Bonds

THE RESIGNATION of Ecuador’s market-friendly finance minister Fausto Ortiz on Monday battered confidence in Ecuadorian assets this week, deepening fears the nation will default on global bonds this year.

After its unpopular seven year Earn launched in April, the European Investment Bank’s new Eu3bn April 2011 benchmark went some way to repairing the borrower’s image in the euro market.

After being jammed shut for two weeks, the US dollar high grade bond issuance window creaked open this week, but only with great and painful effort.