Investors leave cash south of Rio Grande

摘要

Previous international debt crises were all too predictable in their wash-down effect on Latin America. They swiftly led to an exodus of cash, north over the Rio Grande in search of the safety of US Treasuries. The crisis, triggered by the US sub-prime crisis that started in July, did see Latin American primary markets slam shut, with a pipeline of close to 15 deals put on hold, a seeming repeat of previous patterns. But this time, the turmoil was neither as deep nor as long lasting.