zwischen Griechenland und der Türkei verlören einen Großteil ihrer Dynamik. Allerdings besteht das Risiko, dass tiefsitzende …

was the first country to issue Brady bonds, in February 1990, and there soon followed other Latin American, Eastern … to many fixed-income instruments and Brady bonds in particular. We make some simplifying assumptions about this model and … of risky zero-coupon bonds and floating rate coupons. We apply the model to Latin American Brady bonds, deducing the risk …

While there is significant interest in investing in Brady bonds, the source of attraction is often the exposure to … ratio. Using our approach to hedge the Argentinian Par and Discount Brady bonds, we find that only a small fraction (15% or …

account. Applying the model to Brady bonds issued by Mexico, we find that estimated repayment capacity often performs …