Citi
June 15, 2026
The Point for Latin America
Weekly UpdateEquitiesRates CreditCommoditiesFinancialsConsumer Staples
This report provides a weekly update on Latin American equities, economics, and industry trends. Key highlights include downgrades in the financial sector, rationalization in the protein industry, and easing FX lending rules in Argentina.
Key Takeaways
- 1.Downgraded Nu Holdings (NU) to Neutral due to growth monetization concerns and subordination risks in credit.
- 2.Ambev pricing in Brazil is normalizing and tracking inflation, reflecting a rational, volume-oriented approach.
- 3.Argentina eases foreign-currency lending rules, allowing banks to lend USD to non-exporters if backed by export-guarantees.
Table of Contents
- Top Call
- Company
- Industry
- Strategy & Economics
- Global
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Authors
Gustavo SchrodenBrian FloresArnon Shirazi, CFARenata CabralLuis Felipe Terzariol
Securities
NU.NABEV3.SALOGG3.SA
Themes
El Niño commodity impactInflation pass-through
Regions
Latin AmericaBrazilArgentinaMexico