Brazil CDS Sweet Spot: Hariharan

Brazil CDS Sweet Spot: Hariharan

Brazil Funds

Brazilian CDS is “mispriced” and offers an investment opportunity during a period of uncertainty in global markets, says Hari Hariharan, chairman of NWI Investments. “With 35.1% net debt to GDP, which is less than 51.4% for Mexico, I can’t believe that Brazil CDS should be trading 107bp wider than Mexico, after having sat together for most of the last few years,” he says. Still, uncertainty over the pace of the US Fed’s unwind of quantitative easing, and Brazilian elections in 2014 make forecast

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