This report provides a weekly update on Latin American markets, covering company-specific performance in insurance and airlines, industry updates on Brazilian oil taxes and bank loans, and economic outlooks for Mexico.
Key Takeaways
- 1.Brazilian government is considering reducing the INSS payroll-loan interest-rate cap, which would likely be passed through directly to borrowers.
- 2.The export tax on oil in Brazil is temporarily maintained at 12% for another 60 days, negatively impacting oil coverage including PRIO, BRAV3, and PBR.
- 3.Mexico headline inflation in the second half of June saw a downside surprise, reinforcing the high bar for Banxico to consider a rate hike.
Table of Contents
- Top Call
- Company
- Industry
- Strategy & Economics
- Global
- Key Rating and Target Price Changes
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Authors
Gustavo SchrodenArnon Shirazi, CFABrian Flores, CFA
Securities
SMFT3.SALTM
Themes
Inflation DynamicsRegulatory Intervention
Regions
Latin AmericaBrazilMexico