LatAm Bonds
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Average five year investment grade spreads in the US bond market rose a little at the end of the week, but the market is still in remarkably good shape.
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The five year dollar party for triple-A issuers continued this week as central bank appetite for securities of this tenor appeared unabated, despite the heavy issuance over the past three weeks.
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BRAZIL sold $525m in a long awaited global bond tap on Wednesday, capitalising on its new Standard & Poor’s investment grade rating to achieve its tightest ever pricing.
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LATIN American heavyweight companies returned to the corporate bond market this week, with investment grade Mexican media giant Grupo Televisa and Brazilian steelmaker Gerdau both pricing global dollar-denominated bonds at $500m apiece.