LATAM IN THE FLOW FOR March 09
ARGENTINA -
* ARS lost 0.13% to 3.8602 despite BCRA USD purchases.
* MERVAL rose 0.46% to 2,319.14.
* BODEN 12s rose 0.58% to 349.00; GDP-linked bonds rose 3.27% to 25.25 in USD and 1.09% to 5.40 in ARS.
BRAZIL -
* BRL recovered from early losses as the global backdrop turned for the better. Currency closed stronger by 0.72% to 1.7757.
* BCB intervened buying at 1.7805.
* Bovespa also recovered closing 1.46% higher at 69,576.38 although it was unable to hold above 70K.
* Jan 11 Di ended the day up 1bps to 10.41% with higher volume and spread to Jan 12 down to 111bps.
* Fipe IPC to Mar 7 came on expectations at 0.61%m/m.
* Biweekly auction of inflation linked bonds: The 2013 bond rose 27bps to 6.69%, the 2015 was up 20bps to 6.7%, and the 2020 paper yield paid 11bps higher at 6.59%. Placement was 97.3% of offer.
CHILE -
* CLP fell 0.68% to 512.23 on technical profit-taking.
* IPSA fell 0.17% to 3,792.35.
* 5y BCUs rose 2bps to 2.06%.
* Jan-10 Sofofa Industrial Production rose 0.2% y/y as total sales fell -0.9% y/y and internal sales fell -1.1% y/y; electricity consumption fell -2.1% and employment fell -2.2% y/y.
* Pres. Bachelet's approval rating in March stayed at a record high of 84%, even despite difficulties with the earthquake, according to Adimark.
* Feb's SIC electricity consumption was flat y/y due to earthquake.
COLOMBIA -
* COP rallied 0.52% to 1887.35 on continued inflows from FDI, govt.
* IGBC fell 0.40% to 11,852.19.
MEXICO -
* MXN ended the day stronger at 12.6210 after opening as weak as 12.704. No put options were exercised.
* FIX was set at 12.6574.
* Mexbolsa was flat at 32,514.17.
* Mbono 24 was up 2bps to 7.99%.
* 10y tiee swap rose 1bps to 7.96, 3m tiie 28d was down 1bps to 4.94%.
* Feb inflation came in the high end of expectations at 0.58%m/m, with core 0.4%m/m.
* Banxcio reserves were up US$76mn to US$94.5bn.
* Cetes auction: 8-d CETES, yields down 8bps to 4.41%, the 91-d CETES down 2bps to 4.64%; the 182-d CETES unchanged at 4.76% and the 1-y paper corrected up 7bps to 5.07% after 4 weeks. Demand /Supply Ratio rose to 3.79%.
PERU -
* PEN was flat at 2.84 with very little movement allowing BCRP to remain out of the market.
* IGBVL lost 0.47% to 14,401.
VENEZUELA -
* Parallel FX rose to 6.89 from 6.82 as global bonds posted losses.
* IBVC rose 0.20% to 57,057.62.
* Feb's National CPI rose 1.6% m/m, 24.7% y/y and Metro Caracas CPI rose 1.5% m/m, 27.0% y/y - both far below market consensus
BONDS -
Mixed Day for Latam Global Bonds:
* BRL-40 fell 0.31% to 134.29. * COP-13 was unchanged at 121.70. * CLP-12 rose 0.35% to 109.20. * UMS-15 rose 0.24% to 113.13. * PEN-15 rose 0.20% to 126.75. * VEN-27 fell 0.21% to 76.59.
COMMODITIES -
Negative Day for Commodities:
* WTI oil fell 0.46% to US$81.49/bb. * Copper rose 0.04% to US$3.398/lb. * Gold rose 0.15% to US$1,121.85/oz.