Reported about 11 hours ago
JPMorgan has upgraded Mexican equities to 'overweight' due to strong U.S. growth supporting Mexican consumers, while downgrading Brazilian equities to 'neutral' due to concerns over slower growth in China affecting commodity prices. The firm noted that a weaker Mexican peso increases purchasing power for remittances and that Mexico's industrial production is closely linked to the U.S. economy. Meanwhile, Brazil faces challenges from potential interest rate hikes that could slow corporate earnings, amid a broader underperformance in Latin American equity markets this year.
Source: YAHOO