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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, points out that Latin American currencies have been among the few globally to outperform the U.S. dollar, with the exceptions of Argentina and Chile.
He emphasizes that these currencies not only beat the U.S. dollar but also surpassed those of nearly every other country worldwide.
Costa has previously highlighted that gold miners are trading at historic discounts to the S&P 500 despite solid fundamentals. In a separate note, he observed that the money supply is expanding at the fastest rate in five years. These observations are part of Costa's ongoing market commentary.