The report discusses Argentina's economic position amid recent upside surprises in domestic activity and electoral polls. Despite these surprises, the market response has been muted due to gradual fiscal improvements, a widening current account deficit, and persistent inflation. The report highlights the importance of asset selection, with equity markets and external debt showing strong returns, while the peso and local fixed income have underperformed. The upcoming mid-term elections are expected to favor Macri's coalition, which could facilitate necessary reforms. The report also discusses the implications for local rates and currency valuation, suggesting a focus on carry-oriented positions.
doj/DataSet10/EFTA01386034.pdf
{"title":"Argentina - Position for the upturn","key_people":["Macri","Governor Vidal","Cristina Kirchner"],"document_date":"2017-10-16","document_type":"correspondence","key_locations":["Buenos Aires","Cordoba","Mendoza","Santa Fe"],"document_subtype":"report","key_organizations":["Cambiemos"]}