Brazilian equity reverse convertible coupons soar

"Reverse convertibles are paying huge coupons at the moment because of the increase in volatility, and this is likely to continue over the next few months," says Ricardo Kaufmann, head of full service brokerage at Bulltick Capital markets in Miami. Daily volatility recorded by the Vix index spiked at 80.06 on October 24, reflecting a market estimate of future one-month volatility on the S&P 500 index, based on the weighted average of the implied volatilities, and is 61.47 as of 3.15pm in London.

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