Templeton’s departure is an irreversible fact. The star fund of the Wall Street legend, Michael Hasenstab, completed in recent weeks the end of his failed love affair with the country, posting losses that could have reached US$2.5 billion. Now all eyes are on the second house in a similar situation. The Pacific Investment Management Co. (Pimco) which, as far as is known, remains with some important positions as a result of the exchange of its last holdings in the country dated November 2021 and maturing next year, as a result of the exchange operation of the failed Monetary Policy Bond (BoPoMo, aka TJ20). And the suspicion is that after Templeton’s departure, Pimco’s local agents would be ready to imitate the end of his commitment to the country. And also accounting for monumental losses. Pimco maintains positions for around US$1.5 billion, and the hope of convincing the fund to remain in the country is that it has investments in bonds in dollars and not in pesos, which would allow it to have something on its back to wait for a better world.
Source: Ambito
