Editor’s Letter: By The Horns
Why Capital Keeps Flowing South
COVER STORY
LatAm Markets: A Lopsided Rally
When the Iran war hit, capital ran south and stayed there. Now, with the Fed turning hawkish and the dollar stirring, investors are asking how long Latin America can hold its ground.
FEATURES
The Southern Supply: South America’s Oil Moment
Geopolitics has handed South America a rare opening in global energy markets. The question now is whether Argentina, Brazil, Guyana and Suriname can convert cheap barrels into durable market share.
Minerals Competition: Brazil’s Rare Earth Gamble
Brazil sits on nearly a quarter of the world’s rare earth reserves. Miners are betting it can break China’s grip on the minerals powering AI and EVs — if it can build the refining capacity to match.
Venezuela Economy: The Long Road Back
Venezuela’s defaulted bonds surged after Maduro’s ouster, with the country’s vast oil reserves fueling hopes of a quick economic turnaround. Then came two devastating earthquakes in June — and the path to recovery just got harder.
Guatemala Economy: The Grand Interchange
Guatemala has the fiscal discipline of an investment-grade economy, an anti-corruption president, and US manufacturers circling. What’s missing: roads and ports good enough to get the goods out.
PARTING SHOT
Parting Shot: Buyer Beware
Trump’s new “corollary” to the Monroe Doctrine promises American dominance and open markets in one breath. Investors should read past the pitch, argues Alan McPherson.
