AFII research now on the Bloomberg terminal. BRC <go>, Source: ANF, Set alerts
Mexico's president seems eager to use new IMF covid funding programs to support Pemex. From a credit perspective, assuming long convexity positions could be attractrive: if it is true, we anticipate bull flattening, if not, the curve may very well bear flatten. Current forwards imply that Pemex will have a hard time to continue on its current trajectory.
(8 Sep 2021)