Archive for March 11th, 2008
BB+ Brazil vs. AA- Goldman Sachs
11 March 2008It wasn’t that long ago that Brazil was a fiscal basketcase. But today, the global credit markets are telling us that it’s a better credit than Goldman Sachs (GS:NYSE).
As of yesterday morning, Goldman’s 2037 6.75% bonds were trading at 85.441, implying a yield of 7.9%. Brazil’s 2037 7.125% 2037 bonds have rallied to [...]