Lat Am equities up despite softer commodities

Equities in Latin America have outperformed those in the developed and wider emerging world so far this month, despite another dip in the prices of some global commodities. Meanwhile, Venezuela’s foreign currency bonds have rallied following rumours that the government is close to restructuring some of its short term debt. While any such deal would simply kick the can further down the road, it would reduce the chances of a default in the near term.