Capital Flows to Latin America and the Caribbean: 2018 Year-in-Review

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/WAS/TS.2019/2
cepal.docTypeDocumentos de proyectos e investigación
cepal.jobNumberS1900092_en
cepal.topicEngECONOMIC INDICATORS AND PROJECTIONS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFOREIGN DIRECT INVESTMENT
cepal.topicEngMACROECONOMICS
cepal.topicSpaINDICADORES ECONÓMICOS Y PROYECCIONES
cepal.topicSpaINVERSIÓN EXTRANJERA DIRECTA
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.entityNU. CEPAL. Oficina de Washington
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2019-02-15T15:06:40Z
dc.date.available2019-02-15T15:06:40Z
dc.date.issued2019-02-15
dc.description.abstractIn 2018, bond issuance from Latin American and the Caribbean (LAC) slowed, bond spreads widened and credit quality deteriorated. The region saw the best and the worst conditions for tapping international capital markets in 2018. In January 2018, issuers from the region placed their highest ever monthly volume of debt in international markets. On the other hand, December 2018, with no issuance recorded, was the worst December on record for LAC issuers. Bond activity in 2018 was affected by a heavy electoral calendar at the domestic level, and by U.S. interest rate hikes, withdrawal of dollar liquidity, dollar strengthening, and instability in global stock markets. The appreciation of the U.S. dollar, which reduced the appeal of risky assets, increased pressure on LAC assets. Corporate issuance represented 60% of the total. Volatility made a comeback in 2018, which was the most volatile year since 2015 when measuring intraday changes of 1% or more on the S&P 500. Both Latin American stocks and debt spreads were adversely impacted by the increase in volatility and risk perception in global markets. LAC bond spreads widened 149 basis points in 2018, while stocks lost 9.3%. Credit quality in the region continued to deteriorate in 2018. There were 14 downgrades and only 3 upgrades in the region in 2018. Negative credit rating actions (including downgrades and downward outlook revisions) have outnumbered positive actions in the region for six years in a row.
dc.formatTexto
dc.format.extent50 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/WAS/TS.2019/2
dc.identifier.urihttps://hdl.handle.net/11362/44460
dc.language.isoeng
dc.physicalDescription50 p.
dc.publisherECLAC
dc.publisher.placeWashington, D.C.
dc.rights.coarDisponible
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngBONDS
dc.subject.unbisEngMARKETS
dc.subject.unbisEngDEBT MANAGEMENT
dc.subject.unbisEngCREDIT
dc.subject.unbisEngSTATISTICAL DATA
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaBONOS
dc.subject.unbisSpaMERCADOS
dc.subject.unbisSpaGESTION DE LA DEUDA
dc.subject.unbisSpaCREDITO
dc.subject.unbisSpaDATOS ESTADISTICOS
dc.titleCapital Flows to Latin America and the Caribbean: 2018 Year-in-Review
dc.type.coarlibro
dspace.entity.typePublication
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