Proximity yields some benefits for the North American antipode countries...
NEW YORK, Feb 18 (Reuters) - Investors pushed Latin
American stocks close to one-month highs on Thursday, driven by
gains in Mexico, where new pension fund rules were seen giving
greater flexibility to fund managers to navigate volatility.
Regional currencies were mixed against the U.S. dollar with
the Mexican peso, Brazilian real and Colombian peso making
modest gains even after reports of stronger manufacturing out
of Washington.
MSCI's Latin American stock index rose 1.71 percent
.MILA00000PUS while the broader MSCI emerging market stock
index was off just 0.05 percent .MSCIEF.
Upbeat U.S. economic data -- stronger regional
manufacturing data and rising leading economic indicators --
offset a report from Wal-Mart Stores Inc (WMT.N), the world's
largest retailer, which forecast results for the current
quarter could miss Wall Street estimates. For more see
[ID:nN16220499].
Credit spreads narrowed more as a function of the drop in
U.S. Treasury prices and their rising yields on the back of the
stronger data rather than any out-sized gains for emerging
market sovereign debt. [ID:nN18186639]
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