Oil-Rich Latin America Lures Traders Navigating War Jitters

Latin American assets have emerged as a haven for emerging-market investors trying to navigate an increasingly volatile global backdrop, buoyed by a roster of oil exporters and greater insulation from tensions in the Middle East.

Currencies across the region, from Brazil’s real to Argentina’s peso, are among the few in emerging markets that have strengthened against the dollar since the start of the war in Iran. Dollar bonds from oil-rich Ecuador and Colombia have ranked among the top performers in the span, as has Colombia’s local-currency debt.