Watching, But Not Waiting

Watching, But Not Waiting

Argentina

Despite a weakened US economy and the conservatism it has spawned in investors, this year has been surprisingly robust for the Latin American debt markets. Sovereign activity continues to dominate debt issuance in the region and had a generally positive market reception. Pre-funding exercises for next year are already underway in some countries and a series of benchmarks are being set in the corporate bond market. Although to a lesser degree, Latin American financiers echo with similar upbeat news on the bank loan side. "Sovereign issuance has overshadowed bank and corporate-type bond issues," says Brendan Goffinet, vice president, Latin American debt capital markets group at Morgan St

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