We continue to believe that Argentina is likely to reach a negotiated settlement with holdout investors, those who have refused restructuring offers on outstanding defaulted sovereign debt, and evidence that this view is playing out is fuelling a broad rally in Argentine financial assets Once reached, such a settlement would substantially de-risk Argentina's restructured sovereign debt, and as...
The South African rand will range-trade for the remainder of 2014 and then subsequently depreciate in 2015 and 2016. The main drivers of this weakness will be a sustained current account deficit and tepid inflows of foreign investment.
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Thanks, BMI Research