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Emerging market bond spreads tightened to record low levels in 2005, as a result of the search for yield in face of ample global liquidity and improving fundamentals in emerging market countries. According to J.P. Morgan, most of the EMBI Global's 8.96% total return in 2005 was derived from sprea...
Enlace original:
https://repositorio.cepal.org/handle/11362/28851
Latin American markets entered 2005 with impetus, as the favorable environment for capital inflows at the end of 2004 persisted in the beginning of the year. However, investors' sentiment deteriorated as the first quarter progressed, and concerns about economic conditions (including rising intere...
Enlace original:
https://repositorio.cepal.org/handle/11362/28846
In 2005, abundant global liquidity, as well as low bond yields and flat yield curves, encouraged investors to seek higher returns in emerging markets, compressing credit spreads and helping borrowers to increase new bond issuance and engage in liability management. Investors were also encouraged ...
Enlace original:
https://repositorio.cepal.org/handle/11362/28850
This paper analyses the viability, implications and challenges of expanding the Latin American Reserve Fund (FLAR) to Argentina, Brazil, Chile, Mexico and Paraguay. A regional reserve fund should be viewed as one of a broad range of mechanisms offered by the international financial architecture t...
Enlace original:
https://repositorio.cepal.org/handle/11362/37018
Titelman Kardonsky, Daniel
,
Vera, Cecilia
,
Carvallo, Pablo
,
Pérez Caldentey, Esteban
,
A regional reserve fund for Latin America
For six years, the global economy has been driven by the U.S. Federal Reserve’s policies of easy money. Liquidity has flowed from developed to developing economies, financing infrastructure and corporate investment and allowing consumers to indulge in credit-fuelled retail spending. Thus the effe...
Enlace original:
https://repositorio.cepal.org/handle/11362/37395
