Fundamentals

  • For over a decade, Venezuela and Argentina have been the LatAm high beta credit markets.
  • These economies are highly volatile, due to their reliance on commodities.
  • There are a lot of restrictions in these markets, which translates into limited access to information and data.
  • Imperfect and mispriced markets, which generate arbitrage opportunities.
  • Lack of local market participants and on-site research.