LatAm Bonds

Venezuela’s finance minister Rodrigo Cabezas confirmed on Thursday that Venezuela and Argentina are working on a third joint bond issue, expected this month.

Brazil is moving towards obtaining international settlement status for securities in reais, but will first need to make the real fully convertible — a move that would require a constitutional change.

Subprime panic and risk aversion hit Latin America in earnest this week. It started bad and got worse, with sovereign spreads widening dramatically across the board yesterday (Thursday).