The Dog That Didn't Bark

The Dog That Didn't Bark

 In recent weeks, Latin American assets have taken their nastiest, sharpest tumble in 15 years. After 12 straight quarters of sure footing, during which time confidence and sophistication were both on the rise in our corner of the capital markets, uncertainty is back. Issuers have been tripped up as they attempt to clinch credit at the same low rates they have enjoyed for months, and market players are fretting over whether this sharp correction will turn into a pause to collect our thoughts, or the start of the next crisis. While sell-offs of years past have been triggered by problems in emerging markets like Russia and Thailand, the jitters of 2006 have been sparked by rising concern

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