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Joining the party
Latin America's inflation markets are becoming more liquid, with some countries relaxing regulations to spur growth. This has prompted a number of overseas dealers and investors to enter the arena, with most predicting further growth in the coming year. By Duncan Wood
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Last February, Brazil's famous carnival more or less coincided with a decision by Brazil's government to remove the 15% withholding tax that had deterred investors from buying domestic inflation-linked bonds. The celebration ignited by that decision may have featured rather more sober pinstripes and fewer feathered dancers than Rio de Janeiro's four-day street party, but it has also outlasted the carnival, welcoming eager investors to both cash and derivatives markets throughout the year.
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