Central Europe, where more good news is priced in, may lag Russia and Turkey.

250

It would be a good opportunity to signal a change in interest rate policy. This is a country with single-digit inflation and an interest rate of 20 percent. It's ridiculous.

240

The possibility of Mexico and maybe Russia trading through Italy is very real.

223

Brazil's benchmark rate will keep on falling until it gets down to a more reasonable single digit rate. The tax cut, along with lower inflation, will certainly help.

222

I'm certainly expecting a similar kind of cacophony in Prague that we witnessed in Washington, Seattle and almost every other major economic and political event in recent memory.

182

Brazil is on autopilot. Congress could do nothing for the next year, and Brazil would still be a good credit.

162

It's a country developing very fast and it deserves to have low credit spreads. Investors like myself with pension funds and central banks will just buy into any weakness.

161

The reality is that there's risk everywhere, in every country. We're now in a world where you've got two types of countries: emerging markets, where political risk is priced in, and a whole bunch where it isn't priced in at all.

125