U.S. investment bank JPMorgan has downgraded its recommendation on Panama's bonds after U.S. President Donald Trump ramped up his threat this week to "take back" the Panama canal. The Central American country's bonds have been struggling since Trump made the pledge during his election campaign,

In his inauguration speech on Monday, Trump repeated criticisms he made in recent weeks over the canal, which handles about 3 per cent of global seaborne trade each year. The US oversaw the building of the Panama Canal,