The U.S. economy appears to be slowing faster than we thought, people are eyeing a recession and, in the heat of the moment, that is causing panic.

The market is basically strong but there seems to be a lack of funds and some people are turning around to eke out profits.

I think the news of Mexico's upgrade to investment grade also is helping Brazil. People are thinking Brazil could also have some sort of upgrade.

We are having a constant flow of domestic investment. People have changed their strategy. If you want a good return you have to go to variable income.

The S&P news helped. But we are having large inflows as big banks move more money into Latin America.

If you make things easier for Mexico, you end up making them easier for Brazil.