As we see the US emerge from the winter hibernation (Retail Sales, Industrial Production, Jobless Claims), we are also seeing signs of Emerging Markets recovery on Macro.
We endorse a look at Chile and outline why the country is one of our top OW markets.
Last week, Emerging Market Equity Fund Flows were down for the 4th straight week with the largest outflows seen since the August 2011 bloodbath.
The Chilean economy has long been the model for Latin America and maintains the region’s highest credit ratings with Aa3 from Moody’s and A+ from Standard & Poor’s and Fitch.
One of my favorite, and one of the most simple metrics for macro-level investing, is growth in loan demand and bank deposits. Right now, rising loan demand in parts of Latin America can result in a big payoff for investors.
Monday’s best web covers HP’s plans for India, Turkish companies distributing Gazprom gas, an attractive mining company in Chile, the rise of Indonesian bonds, and improving bank culture from the top down.
Friday’s best web covers China’s establishment of a national pricing system for rare earth metals, more gold mining in Russia, Navistar’s plans to sell more trucks, India’s search for Olympic medals, Russian politics, and questions about China’s power trajectory.
Thursday’s best web covers territorial disputes in the South China Sea, luxury cars in Russia, inflation numbers from Turkey and South Africa, IndianOil Corps forex borrowings, and a Chilean company worth keeping an eye on.
Chile’s largest retailer, Cencosud, recently filed with the SEC to issue American Depository Receipts in the U.S. market.