EDITORIAL COMMENT: Buy Now Pain Later

EDITORIAL COMMENT: Buy Now Pain Later

Brazil

Markets have tip-toed back from the brink of Armageddon, valuations are revving up and junk-rated borrowers have swooped in to feed investors eager for a hit. Brazil has emerged with a new sense of importance as the proxy for LatAm, riding high as if the last 18 months were all a bad dream.The buyside hurled more than $37.0 billion in orders at the $6.5 billion July cross-border LatAm bond bender, which was a huge step up from the typical summer dribble. For issuers, the binge makes perfect sense, as investors of all stripes whip out ample checkbooks for almost any LatAm name. And it is almost too good to be true for Wall Street’s dusty DCM teams. Many rediscovered their purpose, while

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