Charts Of The Day: Macro Data In Bad Shape

Regular followers of BMI's Daily Financial Alert will be aware of our recent optimism on Latin American financial markets. Based on attractive valuations and the return of investor appetite, we have liked a number of assets short-term, enjoying significant gains with Latin FX versus the Japanese yen, regional equities, Venezuelan external debt and Mexican 5-Year CDS. Nevertheless, as our global team outlines today, it may be time to take a breather on our short-term bounce view, given that a number of key risk indicators look overbought.

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