Chile
Last Friday, my colleague Dhaval Joshi and I held a webcast discussing investment strategies. The topics of discussion included global equity valuations, mega-cap stocks leadership and the outlook for EM stocks, fixed-income and currencies. You can listen to the webcast recording by clicking here…
Sell CLP/COP?
Sell CLP/COP…
A Tactical Bet On Chile Vs Other EM…
Where Is Chile Headed?…
Highlights Chile is undergoing a paradigm shift from a neoliberal economic model to a Welfare State. It will not be a smooth transition, as the political and business elites are resisting such a transformation. Indeed, protesters will continue to renounce the status quo until their demands…
Highlights Chile is undergoing a paradigm shift from a neoliberal economic model to a Welfare State. It will not be a smooth transition, as the political and business elites are resisting such a transformation. Indeed, protesters will continue to renounce the status quo until their demands…
The latest violent protests in Chile have raised doubts about its socio-political and economic stability. As a result, Chilean share prices could be facing both absolute and relative (versus other EM bourses) de-ratings. We are downgrading this bourse from overweight to neutral within an EM…
Highlights Analysis on Chile is available below. EM local bond yields have decoupled from their traditional macro drivers. This could be a sign that EM domestic bonds are entering a New Normal. We refer to a New Normal for EM local bonds when their yields drop during a global growth slowdown…
Analysis on Chile is available below. Highlights Major equity leadership rotations normally occur around bear markets or corrections. Hence, a major broad selloff will likely be a precondition for EM, commodities, global cyclicals and value stocks to commence outperforming. The odds that EM…
Chart II-1Our Strategy For Chile
Our Strategy For Chile…