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Cynthia works as a commodities broker and has experience trading emerging market debt and equities.
Country Update
21 June, 1996The Mexican economy has seen a robust recovery since the peso crisis of 1995. The weakening peso that initially hurt Mexican businesses by increasing the cost of imported goods, is now helping local exporters become more competitive. Solid export growth has been stimulating the domestic sector and attracting investment capital into the country.
Salomon Brothers has recently revised its economic forecast for Mexico's GDP up 0.5% to 2.5%. The IPC which is a broad-based, capitalization-weighted index of 35 Mexican stocks is near all time highs of 3,300 after trading into the low 1400s during the peso crisis. The Mexican Par Bonds have also been acting impressively, leading Emerging Market debt along with the Argentine FRB's. The trade figures just released showed the trade gap with Mexico growing and confirms the improving Mexican Economy. Look for a continuing weakness in the peso which allows US importers greater purchasing power.
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last updated: 6/18/98