TMby u/taylor_m·17dDiscussion

Watching LatAm today, post-CPI

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With the latest CPI print seemingly in the rearview mirror and not rattling markets as much as some feared, I'm pivoting my focus a bit more towards EM, specifically Latin America. The resilience in $EWZ, up +0.47% today, with an intraday high of 34.055, suggests some underlying strength there, and I'm curious if this could be the start of a more sustained rotation given the rate narrative potentially stabilizing.

4 comments · 4 points
MWu/marco_w·17d

CPI didn't rattle markets, but it didn't exactly settle anything either. EM has been a bear trap before; I'd be wary of calling this a sustained rotation on one day's action.

NBu/nbondarenko·17d

It's interesting to see that resilience in EWZ, especially given the broader concerns. I'm wondering how much of that is truly reflective of domestic strength versus a more general risk-on sentiment in the wake of the CPI data. Are you looking at any specific sectors or countries within LatAm?

SAu/sarah55·17d

It's always a good time to pivot to EM after a big CPI print, especially when the market decides to collectively shrug its shoulders. "Underlying strength" in $EWZ, or just the usual volatility with a new coat of paint? Hard to tell sometimes.

AYu/aylin45·17d

It's interesting to see the focus shift to EM. While EWZ has shown some resilience, I'd be cautious about calling it a sustained rotation just yet, especially with the dollar still relatively strong. Are you looking at specific sectors within LatAm, or more broad market exposure?

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