Colombian Peso to
Outperform, Morgan Stanley Predicts
By Andrea Jaramillo
(Bloomberg) - Colombia’s peso will
outperform “regional peers” as the nation’s
economy grows more than analysts on average
estimate, according to Morgan Stanley.
“From a valuation perspective, the Colombian
peso’s relative underperformance over the
last six months makes it attractive as it
catches up to its peers,” Vitali Meschoulam,
an analyst at Morgan Stanley, wrote in a
report today.
Meschoulam recommends investors buy the
Colombian peso and sell the Chilean peso in
the next two to three months, before
“potential volatility” from the May 30
presidential elections in Colombia. The
Colombian peso has gained 0.5 percent in the
last six months while the Chilean peso has
jumped 6 percent.
Morgan Stanley forecasts Colombia will
expand 4.1 percent this year, more than the
2.5 percent median estimate of nine
economists in a Bloomberg survey.
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