Dec. 11, 2014, 12:36 PM
- A large net importer of oil, Chile (NYSEARCA:ECH) is the largest Latin American beneficiary of plunging crude prices, says Credit Suisse, upgrading the country to Overweight in its 2015 outlook for Latin America. Columbia (GXG, COLX, ICOL), however, will see a strong negative impact on its trade and fiscal accounts, and is downgraded to Market Weight.
- Cut to Underweight is Brazil (NYSEARCA:EWZ) even after the recent correction, thanks to poor GDP and earnings outlook, fiscal tightening, forex risk, and a still-pricey valuation.
- Mexico (NYSEARCA:EWW) remains Market Weight as strong economic fundamentals are balanced out by full valuations.
- The team remains Underweight Peru (NYSEARCA:EPU).
- ETFs: ILF, LBJ, GML, EEML, FLN
Dec. 9, 2014, 1:45 PM
- December 12th will be the final trading day for the following ETFs: Market Vectors Bank and Brokerage ETF (NYSEARCA:RKH); Market Vectors Colombia ETF (NYSEARCA:COLX); Market Vectors Germany Small-Cap ETF (NYSEARCA:GERJ) ; Market Vectors Latin America Small-Cap ETF (NYSEARCA:LATM); Market Vectors Renminbi Bond ETF (NYSEARCA:CHLC)
Sep. 23, 2013, 9:57 AM
- Extrapolating the Fed's more dovish stance to emerging markets, JPMorgan upgrades Turkey (TUR) and Peru (EPU) to overweight, where they'll join Mexico (EWM), Thailand (THD, TTF, TF), The Philippines (EPHE), and Taiwan (EWT).
- "Turkey feels like the tapering trade," says the team. "The suffering this summer turns to euphoria as the Fed returns to dovishness and retreats from tapering."
- Taiwan and Mexico rate an overweight because of their exposure to developed world growth, but what about Korea (EWY, FKO, KORU, KORZ)? Typically, the country belongs in this group, but JPMorgan is cautious on high-end tech and thus on Samsung. Taiwan, on the other hand, should benefit from the growth in low-priced smartphones.
- Moved to underweight are Russia (RSX, ERUS, RBL, RSXJ, RUDR) and Colombia (GXG, COLX, ICOL).
- Top 10 individual stock picks include ICICI Bank (IBN), Southern Copper (SCCO), and Cemex (CX).
Jul. 15, 2012, 5:59 AM
Having made strides in its battle against the drug lords over the past few years, has Colombia become a safe have to compare with likes of Switzerland? The country is fighting a 9.2% jump in the peso since January, the world's biggest currency rally this year, despite a $20M daily purchase program. President Juan Manuel Santos reckons Colombia has room to add $13B to its $34.3B in international reserves.| Jul. 15, 2012, 5:59 AM | 3 Comments
Jul. 6, 2011, 11:51 AM
Colombia moves its first international paper since becoming an investment grade credit, selling $2B in 10 year notes to yield 130 bps over Treasuries, and about 35 bps more than Brazil and Mexico pay. Rich in oil and minerals, the country is enjoying the fruits of the global resources boom. GXG +24% Y/Y.| Jul. 6, 2011, 11:51 AM | 1 Comment
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