Morgan Stanley encourages investors to buy battered El Salvador Eurobonds

2022.07.20 17:41

Morgan Stanley encourages investors to buy battered El Salvador Eurobonds

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 (NYSE:MS) 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 market conditions despite the country having better financial metrics than many of its peers, reported Bloomberg. The note to investors read:

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