Capital Flows to Latin America: 2017 Year in Review

The total amount of debt issued by LAC borrowers from January to November 2017 reached US$ 138 billion, the highest annual amount ever issued in the region. Investors’ enthusiasm for LAC assets was supported by synchronized growth at the global level, still low interest rates across de globe (with o...

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Otros Autores:	NU. CEPAL. Oficina de Washington
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2017
Materias:	MOVIMIENTOS DE CAPITAL BONOS MERCADOS GESTION DE LA DEUDA CAPITAL MOVEMENTS BONDS MARKETS DEBT MANAGEMENT
Acceso en línea:	http://hdl.handle.net/11362/42718
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id	oai-11362-42718
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spelling	oai-11362-427182020-11-17T01:15:48Z Capital Flows to Latin America: 2017 Year in Review NU. CEPAL. Oficina de Washington MOVIMIENTOS DE CAPITAL BONOS MERCADOS GESTION DE LA DEUDA CAPITAL MOVEMENTS BONDS MARKETS DEBT MANAGEMENT The total amount of debt issued by LAC borrowers from January to November 2017 reached US$ 138 billion, the highest annual amount ever issued in the region. Investors’ enthusiasm for LAC assets was supported by synchronized growth at the global level, still low interest rates across de globe (with only a very gradual tightening in the United States), weakness in the U.S. dollar, and an improvement in the region’s own economic conditions. On the sovereign side, seventeen countries tapped international bond markets this year, with Argentina topping the list with 28% of the total sovereign issuance from January to November. The strong cross-border market performance was supported by a tightening in bond spreads. LAC bond spreads tightened 56 basis points from January to November 2017. However, despite a tightening in spreads, the credit quality in the region continued to deteriorate: there were 24 sovereign downgrades from January to November, and 10 upgrades. Although current expectations suggest credit conditions will continue to be favorable in 2018, challenges remain. Domestically, a heavy election cycle next year may lead investors to delay plans and may bring uncertainty. Regarding the external environment, while forecasts seem optimistic, an asset price correction or a geo-political surprise could lead to capital outflows from the region. 2017-12-20T15:56:12Z 2017-12-20T15:56:12Z 2017-12 Texto Documento Completo http://hdl.handle.net/11362/42718 LC/WAS/TS.2017/9 en .pdf application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN ECLAC
institution	Cepal
collection	Cepal
language	English
topic	MOVIMIENTOS DE CAPITAL BONOS MERCADOS GESTION DE LA DEUDA CAPITAL MOVEMENTS BONDS MARKETS DEBT MANAGEMENT
spellingShingle	MOVIMIENTOS DE CAPITAL BONOS MERCADOS GESTION DE LA DEUDA CAPITAL MOVEMENTS BONDS MARKETS DEBT MANAGEMENT Capital Flows to Latin America: 2017 Year in Review
description	The total amount of debt issued by LAC borrowers from January to November 2017 reached US$ 138 billion, the highest annual amount ever issued in the region. Investors’ enthusiasm for LAC assets was supported by synchronized growth at the global level, still low interest rates across de globe (with only a very gradual tightening in the United States), weakness in the U.S. dollar, and an improvement in the region’s own economic conditions. On the sovereign side, seventeen countries tapped international bond markets this year, with Argentina topping the list with 28% of the total sovereign issuance from January to November. The strong cross-border market performance was supported by a tightening in bond spreads. LAC bond spreads tightened 56 basis points from January to November 2017. However, despite a tightening in spreads, the credit quality in the region continued to deteriorate: there were 24 sovereign downgrades from January to November, and 10 upgrades. Although current expectations suggest credit conditions will continue to be favorable in 2018, challenges remain. Domestically, a heavy election cycle next year may lead investors to delay plans and may bring uncertainty. Regarding the external environment, while forecasts seem optimistic, an asset price correction or a geo-political surprise could lead to capital outflows from the region.
author2	NU. CEPAL. Oficina de Washington
author_facet	NU. CEPAL. Oficina de Washington
format	Texto
title	Capital Flows to Latin America: 2017 Year in Review
title_short	Capital Flows to Latin America: 2017 Year in Review
title_full	Capital Flows to Latin America: 2017 Year in Review
title_fullStr	Capital Flows to Latin America: 2017 Year in Review
title_full_unstemmed	Capital Flows to Latin America: 2017 Year in Review
title_sort	capital flows to latin america: 2017 year in review
publisher	ECLAC
publishDate	2017
url	http://hdl.handle.net/11362/42718
_version_	1718438353101127680

Capital Flows to Latin America: 2017 Year in Review

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