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

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.

Interest rates are going up - the only question is by how much. Yields will rise further.

There isn't a significant inflationary problem. People are still trying to buy longer-dated bonds.

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.

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