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LATAM: Summary – September 30

LATAM
EM BulletBulletGlobalEmerging Market NewsRegion
  • BanRep is expected to deliver another 50bp cut to 10.25% on Monday, with risk of a larger move. Elsewhere, the BCB will publish its usual Focus survey, while primary budget balance and net debt data are also due in Brazil. In Chile, August activity data will be published, including retail sales and IP, while the unemployment rate is expected to dip to 10.0% in Colombia in August.
  • In the US, focus ahead turns to the MNI Chicago PMI release for September as well as the prelim German CPI stats after this morning's regionals. The central bank speaker slate should prove of more interest, with the ECB’s Lagarde appearing in front of parliament, the Fed’s Powell in front of the NABE (text and Q&A expected) as well as the Fed's Bowman after the US close.
  • Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back. The CSI 300 Index jumped 8.5% Monday, marking the most since 2008 as traders rushed to buy shares in the last session before a week-long holiday. The index, which lost more than 45% of its value from a 2021 high through mid-September, has since soared more than 20% to enter a technical bull market. Its rally last week was the biggest in 16 years.
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  • BanRep is expected to deliver another 50bp cut to 10.25% on Monday, with risk of a larger move. Elsewhere, the BCB will publish its usual Focus survey, while primary budget balance and net debt data are also due in Brazil. In Chile, August activity data will be published, including retail sales and IP, while the unemployment rate is expected to dip to 10.0% in Colombia in August.
  • In the US, focus ahead turns to the MNI Chicago PMI release for September as well as the prelim German CPI stats after this morning's regionals. The central bank speaker slate should prove of more interest, with the ECB’s Lagarde appearing in front of parliament, the Fed’s Powell in front of the NABE (text and Q&A expected) as well as the Fed's Bowman after the US close.
  • Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back. The CSI 300 Index jumped 8.5% Monday, marking the most since 2008 as traders rushed to buy shares in the last session before a week-long holiday. The index, which lost more than 45% of its value from a 2021 high through mid-September, has since soared more than 20% to enter a technical bull market. Its rally last week was the biggest in 16 years.