Mexico has legged higher over the past week, with the huge rally in the peso overnight following yesterday’s Presidential debate a significant driver of outperformance. Metal and steel stocks continue to outperform along with emerging markets and the long end of the yield curve. Lower rates have also pulled up prices for REITs. On the other side of the ledger, the Philippines and Natural Gas have reversed recent gains while financials have underperformed on the flattening of the yield curve.
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