Results for “LatAm”

…own, and according to this criteria only, we find that EM currencies are the most attractive, in particular ARS, BRL in LatAm, RUB, TRY and ZAR in EEMEA and INR, IDR and CNY in Asia (Chart 63). Even though volatility and drawdowns can be useful measures of risk, they don’t say m...

…in the behavior of Reserve Bank of India it terms of managing INR to accumulate international reserves is also a risk. LatAm: long PEN/CLP We like long PEN/CLP (spot 195.7, target 200, stop 195.5). LatAm is the most exposed region within EM to global factors. Traditional carry...

…mber 2016 12:30AM EDT Rates and Currencies Research Global Global Rates & Currencies Research MLI (UK) Claudio Irigoyen LatAm FI/FX Strategy/Economist MLPF&S +1 646 855 1734 [email protected] Ezequiel Aguirre LatAm FI/FX Strategist MLPF&S +1 646 855 9689 ezequiel.aguirre@...

Asian and Latam utilities are more levered to economic growth and therefore tend to be

long USDJPY and short basket of LatAm long bonds. Here

LatAm and EMEA currencies are more sensitive to shocks in

we think LatAm is the region that will suffer the most in the new global scenario

…tay bearish (not foolish) For the year ahead, we recommend being bearish 5y US rates, long USDJPY and short a basket of LatAm long bonds (Mexico, Brazil and Colombia). ¢ But in the near term, we urge caution with the reflation trade. Short 10y US real rates offers the best risk-...

…ulated utilities can be found in all regions, however the highest concentration is found in the US. European, Asian and Latam utilities are more levered to economic growth and therefore tend to be no more interest rate-sensitive than broad market equities. Even the performance o...

…ahead, we recommend being bearish 5y US rates (seeing higher yields), long USDJPY (weaker JPY) and short a basket of EM LatAm long bonds (Mexico, Brazil and Colombia). But in the near term, we urge caution with the reflation trade. Short by US real rates (seeing higher yields) of...

…he taper tantrum episode (Chart 62). Chart 62: Carry didn’t drive currency reaction to US elections Chart 63: Asia and LatAm display the highest risk-adjusted carry 25 m 1m carry (annualized) - 15 3 Currency depreciation since Nov8 (rhs) mw 1m carry (annualized) / 1m implied A...

…ahead, we recommend being bearish 5y US rates (seeing higher yields), long USDJPY (weaker JPY) and short a basket of EM LatAm long bonds (Mexico, Brazil and Colombia). But in the near term, we urge caution with the reflation trade. Short 10y US real rates (seeing higher yields) o...