Latam Fixed Income Strategy

Mar 8, 2018 - MYR. PEN. COP. INR. IDR. RUB. TRY. CLP. ZAR. BRL. High-beta FX returns (spot vs. USD). Source: Bloomberg, Itaú. % (+) appreciation.
97KB Sizes 1 Downloads 102 Views
Latam Fixed Income Strategy FX and Commodities Tracker March 8, 2018

Currencies Last Latam FX (2010=100) Commodity FX (2010=100) EM FX (2010=100) USD/G10 (=1/DXY Index) BRL (per USD) MXN (per USD) CLP (per USD) COP (per USD) ARS (per USD) PEN (per USD) INR (per USD) IDR (per USD) TRY (per USD) ZAR (per USD) RUB (per USD)

161.47 166.18 120.24 111.01 3.2645 18.6427 606.16 2,877 20.3612 3.2582 65.15 13,816 3.8225 11.91 57.10

1D

1W

1M

3M

6M

12M

-0.29% -0.45% -0.09% -0.57% -0.65% 0.37% -0.57% -0.38% 0.20% -0.17% -0.40% -0.41% -0.55% -0.64% -0.46%

0.1% -0.4% -0.1% 0.2% -0.4% 1.1% -1.8% 0.1% -1.0% 0.1% 0.0% -0.5% -0.4% -0.2% -0.5%

1% 1% 0% 0% 1% 1% -1% 0% -2% 0% -1% -2% 0% 2% 2%

2% 3% 0% 4% 1% 2% 8% 5% -15% -1% -1% -2% 0% 15% 4%

-4% -1% -1% 1% -5% -5% 2% 1% -16% -1% -2% -5% -11% 9% 0%

1% 2% 0% 13% -3% 6% 9% 4% -16% 1% 2% -3% -2% 10% 3%

So urce: B lo o mberg

P ric e s a s o f 15 :10 E S T

FX Aggregates - Spot Returns

LatAm FX - Spot Returns 16%

12% BRL MXN CLP COP

10%

8% 6%

8%

12% 4%

4% 1%

1% 0%

10%

6%

5%

2%

Latam FX Commodity FX EM FX USD/G10 (=1/DXY Index)

14%

9%

2%

2% 1%

8% 6%

1%

4%

0%

1% 1%

0%

-4%

-3%

-6%

4%

3%

2% -1%

-2%

13%

2%

2%

1%

0%

0% 0%

-2%

-5%-5%

1% 0%

-1%-1%

-4%

-4%

-6%

-8% 1M

3M

6M

1M

12M

High-beta FX returns (spot vs. USD) ARS

Daily return

MYR PEN

IDR

-0.19 -0.24

NZD

-0.41

-0.28

SEK

-0.43

AUD

-0.45

NOK

-0.54

CLP

-0.45

GBP

-0.58

-0.59

ZAR

-0.64

EUR

-0.80

BRL

-0.65

CHF

-0.81

-1.0

-0.5

-0.17

SGD

-0.46

TRY

-0.11

Daily return

JPY

-0.40

RUB

0.15

% (+) appreciation (-) depreciation

ILS

-0.38

INR

CAD KRW

0.20 -0.09

-0.18

COP

0.0

Source: Bloomberg, Itaú

12M

Low-beta FX returns (spot vs. USD)

0.37

% (+) appreciation (-) depreciation

6M

* Includes: BRL, MXN, CLP, COP and PEN Source: Bloomberg, Itaú

* Includes: BRL, MXN, CLP, COP and PEN Source: Bloomberg, Itaú

MXN

3M

0.5

-1.0

-0.5

0.0

Source: Bloomberg, Itaú

0.5

Latam Fixed Income Strategy FX and Commodities Tracker March 8, 2018

Commodities – Part I General Itau Unibanco commodity index* (2010=100) CRB futures index (1967=100) Gold (USD/ t oz.) Silver (USD/ t oz.)

Last

1D

1W

1M

3M

6M

12M

-

-

-

-

-

-

-

194

-0.40%

-0.1%

1%

5%

7%

5%