LatAm assets head for solid weekly finish

BRASILIA: Latin American assets were on track for a strong weekly run, defying a global risk-averse trend, as investors evaluated key monetary policy decisions and inflation data from the region.

A broader gauge for LatAm equities was up 0.7 percent on Friday and 2.3 percent for the week so far. In contrast, Wall Street equities were set for a dull weekly finish on concerns about the economy and stretched valuations.

An index tracking regional currencies added 0.4 percent, taking weekly gains to 0.9 percent so far.

“From a bigger picture trend, what we’re seeing is people (are) noticing the carry trade in Latin America in combination with improvements in political trends,” said Malcolm Dorson, head of emerging markets at Global X ETFs.