The Point for Latin America

This report provides a weekly update on Latin American markets and global macro strategies. It highlights inflation adjustments in Mexico, corporate developments for regional companies like Nubank and SCCO, and a tactical shift toward commodities in global portfolios.

Key Takeaways

• 1.Mexico inflation forecasts were lowered to 4.1% YoY (headline) and 4.0% (core) due to resilient currency and better-than-expected core goods inflation.
• 2.Nubank Mexico received a full banking license from CNBV, a positive milestone expected to allow for expanded product offerings.
• 3.Global regime models indicate a continued rotation from equity risk toward commodities, with precious metals moving to a long position.

Table of Contents

• Top Call
• Company
• Industry
• Global
• Key Rating and Target Price Changes
• Appendix A-1

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