Jamaica Debt Problems Worsen: JPM

Jamaica Debt Problems Worsen: JPM

Caribbean

Jamaican bond yields are shooting up at a moment when the government is facing large maturities and a challenging external borrowing environment, says JPMorgan. The government auctioned JMD800m in 3- and 6-month treasury bonds this week at average yields of 15.21% and 16.96%, respectively, or 40bp and 161bp higher than its September auction. The average yields were 16bp and 161bp higher than those offered on comparable Bank of Jamaica CDs suggesting expectations of higher interest rates i

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