Equities: New Quarter, Renewed Optimism

With Q209 upon us, we believe it may be time to take a closer inspection of Latin equities - an asset class we have been defensive on since the second half of last year. We note that the majority of the region's benchmark indices found their feet in March, even posting tentative gains, with a few stand-outs (the Peruvian IGRA springs to mind) outperforming their EM peers. Having formed a decent base, there now appears to be room for consolidation and retracement, at least from a technical perspective.

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