LatAm Party Coming to a Close: BCP

The party may soon be over for LatAm as the eventual onset of the commodity bust coincides with the start of the election cycle, says BCP Securities in a note from the IDB meetings. The shop notes “a strange disconnect” at the Miami meetings, characterized by rampant optimism of Latin Americans versus a somber mood from North Americans and Europeans. “Many institutional clients were forced to skip the meetings, due to budget cuts and reduced travel allowances. The venues lacked the flair of previous years, when no cost was spared on entertainment and glitz. Moreover, many discussions focused on the depth of the global financial crisis, and the implications it had for the southern latitudes,” says BCP. “As much as the Latins tried to revive the party atmosphere, there was a sense that it was all over.”