December 9, 2019
Arthur Rubin, Head of Latin American Debt, Capital Markets, SMBC
The growing trend in Latin America of issuing local currency bonds is expected to increase in the coming quarters, with Mexico and Brazil leading the charge.
Should Mexico’s central bank maintain its interest rate cutting trajectory, this should promote a wave of local issuance in the months ahead, says Arthur Rubin, the head of Latin American DCM at SMBC in New York.
“Mexican issuers are increasingly funding domestically rather than tapping the cross-border market, especially for those seeking peso-denominated financing. Others are issuing in pesos and then swapping back to dollars,” according to Rubin.
In Brazil, Rubin
Capital market participants say the final quarter of 2019 is witnessing significant activity, a hopeful sign for the first quarter of 2020. Local currency markets are especially strong