Economy / Argentina
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Latin America: Facing Down The Headwinds
March 2007 | Sovereign Risk RatingSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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After a long period of relative calm since June 2006, volatility in global assets returned with a vengeance in February, with equity markets dropping and bond spreads widening. This sharp and sudden downturn led many investors to ask the question: is the emerging markets party coming to an end? Our view was that the downturn represented a natural correction after a long period of uninterrupted gains across asset classes, rather than a major shift in global macroeconomic fundamentals. The rebound in EM over the subsequent weeks vindicated this view, and we reiterate that the outlook for Latin sovereign debt looks