All Dollars, No Sense

All Dollars, No Sense

The risk reward is all out of whack. Yet foreign investors continue to hurl cash into Latin America, whose markets are bubbling over. Chief financial and public credit officers have never had it so good for so long, and many have already locked in a rate for 2007. The buyside, meanwhile, exudes a strong whiff of complacency. The arguments for the longest bull market in the region's history to continue for the next 12-18 months are compelling. Latin America now has a real shot at casting off the straightjacket of periodic boom and bust. Other than relative value on a global scale, it has emerged unscathed from the busiest election calendar in years. Brazil is headed for investment grade, lik

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