Weekly investor research
Weekly investor research

Coronavirus fears are justified, but likely to be a buying opportunity

By Gustavo Medeiros

Fears over the spread of the Coronavirus have impacted global markets. The uncertainty of the development of the virus justifies the fears. Still, Chinese and international authorities reactions have been bold and fast, reducing the risk of a big pandemic spreading globally, rendering the current sell-off a likely buying opportunity, in our view. Argentina registers a record trade surplus as the Province of Buenos Aires extends the deadline by another ten days for investors to accept a principal extension. Lebanon announced a new cabinet. Trade numbers improved in South Korea, Thailand and Ecuador. In Brazil, BNDES announced the intention to sell a significant position in Petrobras shares. Angola tightened measures against corruption amidst the so-called “Luanda leaks”. The Office of Foreign Assets Control (OFAC) blocked holders of PDVSA 20 bonds to enforce their claim to CITGO collateral until April 2020. The Central Bank of Malaysia cut the policy rate by 0.25% in a move, which was a surprise to the market.

Subscribe to our insights

Subscribe and get notified as soon as we publish our content