July 22, 2014 / 10:00 PM / in 3 years

J.P. Morgan says not boosting weighting of Colombia's peso debt

BOGOTA, July 22 (Reuters) - Investment bank J.P. Morgan will not increase the weighting of Colombia’s peso-denominated debt in one of its closely followed emerging market bond indices, the company said on Tuesday, correcting a note it issued earlier in the day.

J.P. Morgan will keep a 7.8 percent weighting of six Treasury bonds, known as TES, in its GBI-EM Global Diversified index.

Due to a typographical error, the company had incorrectly said it was setting a weighting of 8.8 percent for the six instruments that mature in 2016, 2018, 2019, 2022, 2024 and 2028.

“Please note that Colombia’s final weight in the index at Sep 30th rebalance is projected at 7.8 percent, not 8.8 percent as noted earlier,” the bank said in an update. (Reporting by Julia Symmes Cobb Editing by Brian Ellsworth, Toni Reinhold)

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