Jamaica Downgrade May Not Trigger Sell-Off

Jamaica Downgrade May Not Trigger Sell-Off

Caribbean

S&P chopped Jamaica’s ratings by another notch to CCC with negative outlook after the central bank governor resigned, but JPMorgan analyst Neeraj Arora does not think this will trigger a bond market sell-off. “Since Jamaica's USD bonds are held mostly by local investors – who appear to have taken a more benign view of the resignation – an aggressive sell-off of the bonds is unlikely, especially given their already relatively depressed levels,” he writes in a report. He adds says that the res

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