LatAm Equity Favourites

It has been a volatile week for equity markets across the board, as global investor sentiment towards risky assets seesawed. In our view, such times of heightened uncertainty - on this occasion prompted by Standard & Poor's outlook downgrade on US long-term debt to negative from stable - only increases the importance of selectivity in Emerging Markets. In Latin America, we continue to favour countries with strong macro fundamentals, market-friendly economic policies and stock indices with a solid technical picture. On this latter point in particular, our top picks right now are the Mexican IPC and the Chilean IGPA.

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