Morgan Stanley encourages investors to buy battered El Salvador Eurobonds
The banking giant estimated that El Salvador wouldn’t face any issues with its debt payment for another year, despite the crisis it's facing currently. The Bitcoin (BTC) bet has somewhat backfired for the small nation as the top cryptocurrency trade at a 70% discount from its top. At a time when the Latin American nation is struggling with its debt, Morgan Stanley has given a buy call for the battered Eurobonds.Simon Waever, the global head of emerging-market sovereign credit strategy at Morgan Stanley, told investors in a Tuesday note that El Salvador’s bonds are overly punished by the....
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