Damian Fraser
Damian Fraser
austere bad budget combined equity force government high interest news next number numbers rates sure
This number combined with the other high numbers is going to force the government to keep interest rates high and make sure the budget is austere for the next year. High rates are bad news for equity holders.
believe market model overweight percentage pick portfolio remains stock top
We believe Mexico's stock market is significantly undervalued, and it remains our top pick in the region, with our overweight in our model portfolio at 4.4 percentage points.
budget budgets contains expected given passage
In general, the passage of the budget is expected to go smoothly, given it contains little that is new or controversial.
certain consumer electricity evidence growth impact increases metro moderate price recent rising tax touched wage
While there is evidence that GDP growth has touched bottom, the recent tax increases on certain consumer goods, electricity and metro price hikes, more moderate real wage rises, and rising unemployment are probably going to impact consumption in 2002.
haven mexico safe situation
Mexico would become a safe haven should the situation worsen in Argentina.
change given investors mexico profits signals sitting taking trend
Investors are sitting on profits in Mexico and are taking them now, given the nervousness in Argentina. I do not think this signals a fundamental change in the long-term trend in Mexico.
came market number rallying since taking
The market is taking it positively, it's rallying since this number came in.