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Brazilian Economic Activity, Chile Minutes Top Schedule

LATAM

A busy LatAm schedule to start the week, beginning with the latest BCB Focus Survey followed by Brazil June Economic Activity. The BCCh minutes highlights the docket at 1330BST/0830ET. Colombia Manufacturing Production, Industrial Production and Retail Sales for June will be also published. Brazil Trade Balance Weekly will cross later in the session. In Argentina, right-wing libertarian Javier Milei secured a strong result in PASO presidential primaries yesterday, exceeding his support in opinion polls with 31.6% of the votes.

  • European stocks and US equity futures flipped to gains on the news that Country Garden Holdings is seeking debt extension plans. Equity markets across APAC had been trading in negative territory due to concerns on China’s property market. US yields futures are back to flat, with volumes and price action distinctly light; TYA volumes are printing close to 10% below average for this time of day.
  • The Hong Kong stock market is among the worst performers on renewed concerns on the Chinese property sector as well as missed payments by one of the largest China wealth managers.
  • Russia opens fire to force black sea cargo ship inspection, the first incident since Moscow withdrew from the grain export deal in July. Later ship resumed its journey to Ukraine, according to Russian’s ministry.

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