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Morning commentary: EM debt mostly quiet to start week; Petrobras notes mixed in trading
By Rebecca Melvin
New York, May 7 – Emerging markets debt was mostly quiet to start the week on Monday, following volatility last week that left the space weaker.
Oil prices, which have pushed higher in recent sessions, touched a multi-year high on Monday and were in focus, while Treasuries remained little changed in early action.
But there were some names trading actively.
A pair of Brazil’s Petroleo Brasileiro SA bonds were mixed in trading.
Petrobras’ 8¾% notes due 2026 were seen higher by ¼ to ½ point at 116¼ to 116½ while Petrobras’ 5¾% notes due 2029 were last at 93.30 to 93.40, which was unchanged to slightly weaker on the day, according to Trace data.
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