It’s been a good start to 2018 for Latin America’s financial markets, with equities outperforming those in developed markets, currencies posting strong gains against the dollar, and bond spreads narrowing. Argentine markets have had a more mixed start to the year. The central bank’s relaxation of its inflation targets and subsequent loosening of monetary policy has triggered a rally in local currency bonds at the short end of the yield curve, but caused the peso and dollar bonds to come under pressure.
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