Economics & Strategy: Local-Markets Strategy – First
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Economics & Strategy: Local-Markets Strategy – First

Alejandro Estevez-Breton shepherds Santander’s group of three to third place in this new sector.

Alejandro Estevez-Breton & team Santander


Alejandro Estevez-Breton shepherds Santander’s group of three to third place in this new sector. The strategists, who work out of New York, “know the ins and outs of every market, and the issues and economic factors that affect them,” proclaims one satisfied investor. The team is anticipating turbulence in those markets: “We expect to see a lot of volatility due to uncertainty in Europe and the so-called fiscal cliff coupled with elections in the U.S., which are likely to be a drag on growth in Latam economies,” says Estevez-Breton. The researchers have been recommending defensive trades such as buying cheap dollar–Mexican peso and dollar–Chilean peso call spreads as a means of expressing bearish views on weaknesses in China, Europe and the U.S. “Based on our short-term models, these two currencies seem to be slightly overvalued, which makes them good entry points given the two countries’ relatively high integration to global trade and financial flows and relatively low foreign exchange intervention risks,” he explains. — Thomas W. Johnson


RUNNER(S)-UP

Felipe Queiroga Pianetti & team J.P. Morgan


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