Argentina has been the expected roller coaster for investors over the last 30 months (see chart of the Merval) as the political pendulum has swung back and forth on change and willingness to negotiate in good faith with western creditors.
Argentina is dealing with a complicated legal quagmire that they have been led to by the capital destructive policies of the Kirchner administration.
Emerging Money Audio Call for June 16 – We are seeing emerging markets giving a little around but after three weeks of traveling near 13 month highs and also multiyear highs are taking a breath as global risk
As the rally across Latin America continues into the summer, investors need to be wary of the catalysts to the rally versus the reality of the expected change.
That is the statement I heard from a wise man said to me today. So simple, yet the torrent of sentimental rain upon emerging markets for the last few weeks has seemed as if casual observers are throwing in the towel.
What was recently their secret weapon to outperforming the S&P on EPS is now a headwind but is it a hurricane?
DXY index is off -85bps in afternoon trading, but that doesn’t mean the USD strength devastation is not being felt across the world.