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Mexico says enough is enough

Weekly investor research

22 February 2016

Mexico taught currency speculators a lesson last week. Argentina took a significant stride forward in the holdout case. Venezuela’s actions say far more about the government’s willingness to pay than its ability to pay. Colombia hikes in a belated response to lower oil prices. Russian data is improving. China’s inflation rate was lower than expected, while the trade surplus was higher than anticipated. Brazil was downgraded again – but the time to sell was a long time ago. India’s Supreme Court orders disclosure of large bad debtors in a move that may speed up the process of fixing bad public sector banks. The Ukrainian Prime Minister’s survival of a no-confidence vote buys President Poroshenko political cover and the government time. In the global backdrop, we discuss the sudden excitement about moving to a cashless society. Be afraid, be very afraid.

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