Panama Bonds Outperform Peers as First Quantum Halts Arbitration

Panama’s dollar bonds were the best performers in emerging markets on Monday after First Quantum Minerals told lawyers to suspend its arbitration cases against the country, as the government tries to reach a deal over the company’s shuttered copper mine.

• Sovereign notes rose across the curve, with those due in 2050, 2054 and 2057 gaining around 0.8 cent on the dollar, according to indicative pricing data compiled by Bloomberg
• NOTE: Friday, First Quantum to Halt Arbitration Against Panama on Mine
• Still, Barclays strategists Nestor Rodriguez and Jason Keene downgraded the credit to underweight on Monday after the bonds outperformed ...