Anticipation is a funny thing. Investors’ fears of
a turn in US monetary policy played havoc with bond markets
last year — so much so, that by the time the Federal
Reserve actually began winding down its quantitative easing
program, the response was muted.
With so many uncertainties ahead for Latin America this
year, borrowers and investors can only hope that the markets
will react in as measured a way to all of them.
China’s economy, for example, continues to come
down from its highs but markets have so far retained their
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