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Latin America is disappointing investors, economists and businesses with slower-than-forecast growth as waning commodity prices and strong currencies hit nations that failed to diversify and become more competitive.
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Mexico’s peso bonds are posting their biggest rally in three months on speculation the central bank will lower borrowing costs for the first time since July 2009 to shore up economic growth.
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Argentine President Cristina Fernandez de Kirchner ’s bid to use $7.5 billion in reserves to pay debt next year shows that the country may delay plans to sell international bonds for the first time since 2001.
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Emerging-market borrowers are on course to sell more bonds than ever this year after yields hit record lows and developing economies rebounded faster from the credit crisis than advanced nations.
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The fastest economic growth in two decades is making Brazilian debt safer than Goldman Sachs Group Inc. and Dell Inc., credit default swaps show.
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Brazil’s credit rating, raised to investment grade two years ago, is poised to increase as the economy grows at the fastest pace since 2007, trading in credit- default swaps shows.
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Brazilian presidential candidate Dilma Rousseff will face Jose Serra in a runoff after failing to capture a majority of votes in today’s first-round election.
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Brazil’s bid to wean itself off floating-rate debt, a legacy of 1990s hyperinflation, is faltering as the central bank boosts benchmark borrowing costs from a record low.
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Argentine President Cristina Fernandez de Kirchner ’s growing confrontation with the country’s largest newspaper is exacerbating the biggest tumble in its dollar bonds in two months and prompting JPMorgan Chase & Co. to recommend investors cut holdings.
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Brazilian Finance Minister Guido Mantega is failing to convince currency traders that the real is poised to slump as foreign investment pours into the country’s stock and fixed-income markets.
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