Summary 3/3 - Argentina GDP, Peru Activity Jumps

ARGENTINA - A week of strikes by soybean crushers and grain inspectors in Argentina has all but paralyzed operations at ports in the world's biggest exporter of soy products. Wage talks between Ciara-Cec -- whose members include the quartet of agricultural traders collectively known as ABCD -- and two soy-crushing unions collapsed on Monday night, with both groups and the grain inspectors extending strikes into today.

The contraction in Argentina's GDP likely eased last quarter. 1900GMT/1400ET - Q3 GDP Y/Y expected at -10.7% versus a prior -19.1%.

PERU - Pimco released a note favouring emerging-market government bonds such as those in Peru and China as a portfolio diversifier against the risk of disappointment in the global economic recovery.

This comes after yesterday's Economic Activity gained 3.2% m/m for October, accelerating with respect to the prior two months' recovery pace. Lessened restrictions on different sectors following the stringent lockdown in the second quarter has boosted activity. The recovery represents a 60% retracement from April's lowest readings and runs 5% below pre pandemic levels.