MTN investors are speculating that the huge yield available on Argentine peso bonds may be worth the risk of buying bonds denominated in a currency which is undergoing official devaluation.
Regional issuers may look for higher volume trades in order to cash in on the better cost of funds available for assets on the European Central Bank's buying list.
The International Finance Corporation and Rabobank sold a pair of medium term notes denominated in Chilean pesos this week. With some analysts predicting a rise in the price of copper, this could be a sign investors are looking to buy into a correlated currency.
The European Bank for Reconstruction and Development has printed a private placement in Mexican pesos as part of its micro-finance bond programme for small businesses.
The European Central Bank’s Thursday meeting has been the subject of much speculation in the SSA market and on the eve of the critical day, more SSA bankers are concentrating on that rather than deals it seems.