With today’s plunge, Latin American currencies have collapsed by over 5% in th elast 2 weeks – the fastest drop in almost two years. Year-over-year this is a 15.75% drop, the largest such drop since Lehman. This drop breaks the 2009 lows and presses the currencies to their weakest since 2003… Bond markets are being crushed as short-dated Argentine BONARs have collapsed to 14 month lows.
LatAm FX at 11 year lows…
Argentina BONAR have seen firmer days.