Jamaica Downgrade May Not Trigger Sell-Off

Jamaica Downgrade May Not Trigger Sell-Off


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

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial