Mexico -- Not China or Brazil -- Is Stock Bears' Biggest Target
- BlackRock's $1.2 billion Mexico ETF has most shorts since 2009
- Scenario is `almost like the opposite of bottom fishing'
This article is for subscribers only.
The world’s stock investors have crowned Mexico their favorite market to bet against.
Short interest in BlackRock’s $1.2 billion iShares MSCI Mexico Capped ETF is at more than 40 percent of shares outstanding, compared with 13 percent at the start of May, the most among more than 1,100 exchange-traded-funds tracked by Bloomberg with at least a $300 million market cap. By that measure, traders are the most bearish on Mexican stocks since February 2009, according to data compiled by Markit.