May, 18, 2022
Reuters - U.S. investment bank JPMorgan backed Sri Lanka's crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks with the International Monetary Fund.
Adding an 'overweight' - effectively a buy recommendation - JPMorgan analysts said: "political stability should pave the way for bonds to move higher from near all-time lows".
"We think this stability should result in both IMF discussions and the process of appointing legal and financial advisors moving forward," JPMorgan added.