The main enemy Morales faces is the inflation of expectations. People have a lot of hopes, a lot of expectations. But some are expecting miracles in the short term.

His grand victory and inflated expectations are two of Morales? greatest enemies. There are many people who are hoping for miracles in the short term.

After two or three months of inflation numbers coming in above expectations you start to revise inflation expectations upward, which puts pressure on domestic interest rates.

Morales, even with his great legitimacy, no matter what, will have to forge an agreement with the regions to create a viable government.

The market is moderating its inflation expectations. It's a good time to get into U.S. Treasuries.

We always keep a positive outlook because of the local currency despite the expectations of rising inflation.