“Many Mexican companies have adapted to softer demand by cutting costs and this will be extremely positive for margins once demand picks up in the second half, as we expect.”
“Mexico is not part of South America, but of North America, in respect of the current 'crisis' situation. We see the damage for the peso from this current crisis as being modest.”
“The next issues for investors in Mexico should be the timing of an S&P upgrade (likely to be mid-year, although maybe earlier) and the U.S. economic recovery (on track with our above-consensus view).”
“[For Mexican companies, the upgrade] makes it more likely that they will invest, and makes their profitability higher, creating a more competitive and strong corporate sector. That's not something that's a five-day wonder --- it's a long-term factor, ... This market is going to go quite a bit higher.”
“Interest rates have come down a long way and probably will go down further, ... is managing the peso very well ... and you're clearly getting a quite decent economic recovery now.”
