Trade Idea

ITAU PERP BANBRA PERP idea is 15bps in the money for the week

BUY

ITAU 6 ½ PERP Corp

USP5R6DPAB67 Corp
SELL

BANBRA 9 PERP Corp

USP3772WAF97 Corp

Katana identifid a pocket of dislocation between two Emerging Market perpetual bonds and it was bookmarked on July 26, 2021. The spread difference reverted 15 bps as ITAU 6 ½ PERP tightened to a Zspread of 446 bps and BANBRA 9 PERP tightened to 408bps.

ITAU 6 ½'s PERP has a credit rating of B and BANBRA 9's has a credit rating of CCC+

Copy and Paste Links for IB Chat

Buy Bond
{USP5R6DPAB67 Corp YAS<GO>}

Sell Bond
{USP3772WAF97 Corp YAS<GO>}

Pair Evaluation

{USP5R6DPAB67 Corp USP3772WAF97 Corp SW<GO>}

Pair Spread Graph

{USP5R6DPAB67 Corp USP3772WAF97 Corp HS<GO>} 

Pair Return Calculator

{USP5R6DPAB67 Corp USP3772WAF97 Corp FIHZ<GO>}

Pair Summary

{USP5R6DPAB67 Corp USP3772WAF97 Corp SS<GO>}

Pair Scenario Analysis

{USP5R6DPAB67 Corp USP3772WAF97 Corp FISA<GO>}




{XCU<GO>} TO SWITCH BUY LEG AND SELL LEG SECURITIES DUE TO DEFAULTS


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