EMI Templeton Reports

Landslide: hope vs. experience

Landslide: hope vs. experience

July Report 2018

Globally, investments negative due to US rate increases, trade disputes, and problems in Europe. In Mexico, investments positive due to landslide and postelectoral reconciliation.

Indignation and uncertainty

Indignation and uncertainty

May Report 2018

US rate increases strengthened the US$ and lower production raised oil prices. Trade negotiations continue with China. The outlook for Korea seems better, and, for Iran, worse.


Campaigns: on your mark, get set, go?

Campaigns: on your mark, get set, go?

April Report 2018

Globally, fears of a trade war have combined with concerns about the economic cycle (inflation and rates), affecting markets.

Two Shocks

Two Shocks

March Report 2018

March, Trump’s announcement of tariffs on steel and aluminum, followed by the resignation of Cohn, his economic advisor, revived trade war fears.

2018: Some Clouds

2018: Some Clouds

February Report 2018

Mexico faces abnormal, extreme risks. NAFTA renegotiation can be postponed owing to non-resolution of key issues, and the left leads in electoral polls.

Outlook 2018: looking at the abyss

Outlook 2018: looking at the abyss

December Report 2017

In Mexico, in spite of NAFTA renegotiations and a difficult election outlook for 2018, growth and investments have underperformed globally, but still been positive.


After two quakes, NAFTA worries

After two quakes, NAFTA worries

October Report 2017

Peso investments still positive YTD September 2017, despite two strong quakes in Mexico and major hurricanes in the US and Caribbean. As the 4th round begins, NAFTA worries are affecting Mexican investments.

Much Ado About Nothing

Much Ado About Nothing

September Report 2017

Stocks fell back owing to natural disasters and North Korean saber-rattling. Even so, peso investments continue positive YTD 2017. Global factors: economic expansion and pro-growth goals of Trump administration, despite protectionist and geopolitical threats.

Markets: Summer Breeze

Markets: Summer Breeze

August Report 2017

Peso investments have been positive over the first 7 months of 2017. Global factors: economic expansion and announcement by Trump administration of pro-growth intentions, despite protectionist threats. Local factor: improvement of NAFTA outlook. Foreseeable global risks: failure to execute pro-growth proposals in US, Brexit problems, oil price, geopolitical crises.

First semester: markets beat politics

First semester: markets beat politics

July Report 2017

Peso investments have been positive during the first semester, owing to US$ dollar weakness, overcoming political concerns. Global factors: lower political risk and strong global economy. Local factors: NAFTA outlook and positive midterm elections.