Our latest Journal of Structured Finance Article: “Pricing Brazilian ABS to Trade in the Secondary Market: Benefits from Assimilating Best Pricing Pra... 28 Jan 2013 | 02:00 pm

Here is the link to the Journal of Structured Finance Article Brazilian asset-backed securities (ABS) appeal to investors because of their relatively high yields and diversification benefits. However...

The Journal of Structured Finance just published our paper “Analyzing Brazilian ABS: FIDCs” 11 May 2012 | 07:58 am

Here is the link to the Journal of Structured Finance Article The paper demonstrates the value of using financial models to reverse-engineer deals as is done in the U.S markets. We look at various as...

Defaults in São Paulo in April are highest since 2007, says FecomercioSP 9 May 2012 | 03:26 am

We feel that this article provides some important measures of the deteriorating credit conditions in Brazil. We are especially concerned about debt service coverage ratios in the country.  Many analys...

Daily Market Report 8 May 2012 | 02:51 am

Defaults Should Brake Credit Growth Even with Lower Interest Rates, says Serasa 7 May 2012 | 01:29 pm

We recently wrote a piece, entitled Mantega Magic:  Opportunities for Brazilian ABS, that explored the expected negative consequences of the federal government’s program to use the balance sheets of p...

Best Practices for Investing in Cédulas de Crédito Bancário in Brazil 27 Apr 2012 | 09:21 pm

If you’ve not heard of Morada Bank, it was a spectacular bank failure wrought with fraud in April of 2011 that is still causing headaches for its investors and regulators. We believe that this fraud, ...

Mantega Magic: Opportunities for Brazilian ABS 28 Mar 2012 | 10:22 pm

The Brazilian government has made it abundantly clear that it plans to enter into a bold new era of designing and engineering financial markets. Based on President Dilma’s publicly stated vision, the ...

Brazil Credit Review Third Quarter 2011 1 Dec 2011 | 01:40 pm

Overview of Third Quarter Credit Market for Brazil Report Summary For a full report, download here Latin America Structured Finance Advisors just released our comprehensive 19 page review of Brazil...

Is the Market for Brazilian Real Estate Investment Funds Cooling Off? 7 Sep 2011 | 04:30 am

The growth in the market for Brazilian Real Estate Investment Funds (Fundos de Investimento Imobiliário – FIIs) and Mortgage-backed Securities (Certificates of Real Estate Receivables – Certificado de...

At What Height Does A Seawall Protect From A Tsunami? 20 Aug 2011 | 04:45 am

Brazilian bank analysts are trying to convince you that their country is not experiencing a consumer credit bubble. They see the possibility of a full-blown crisis as remote.  However, the very statis...