The Latin link
In Latin America, product volumes are sliding and issuers are now happy to work on even the smallest trades. But Bulltick has managed to navigate these difficult conditions, concentrating on pricing distressed Lehman paper and dealing with now undervalued capital-protected notes. Matt Cameron reports
"There is a feeling of desperation in the market," says Ricardo Kaufmann, Miami-based head of full service brokerage at Bulltick Capital Markets. "Volumes of trades are nowhere near what they were last year and product issuers will do any size trades, no matter how small." The Latin American market has been re-characterised by three trends over the past month. Firstly, market participants of all types are looking to buy and sell distressed Lehman Brothers paper; secondly, many capital-protected
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