Media and LatAm Navel Gaze: February 13, 2017
“SEE YOU IN COURT” and on Twitter but perhaps the more likely next outcome from the travel ban from the White House will be a better vetted executive order to avoid what the president called a “political decision” on the ruling. Next move expected very soon – under the media microscope -- just as weekend news broke that North Korea staged a test missile launch in what many say is a test for Trump’s hard stance around the world.
- White house press briefings are now turning into story boards for SNL with the latest Sean Spicer skit Saturday night (thank you, Melissa McCarthy) riffing off Kellyanne Conway who shilled for “Invanka’s Stuff” and later apologized; Perhaps rename the briefings “Unbest Practices”; SNL ratings Saturday night, however, reached a six-year high, moving a decidedly different direction than their inspirations;
- Trump endorses a “One China” policy in a change of heart, perhaps to help celebrate Year of the Red Rooster;
- CNN anchor Jake Trapper has a new hashtag, #TapperDirtFile, amid reports on Axios and picked up elsewhere that he is now the target of “hit pieces” because of his tough interviews with Kellyanne et alia;
- Stocks scored another round of record highs last week with the Dow advancing 1 percent to end Friday at 20,269;
- Vanguard hit the $4 trillion AUM mark;
- Bob Costas is stepping down as host of NBC’s Olympics after a 24-year run; and
- The Clooneys are having twins but no doubt, #beywillwearitbetter.
- On Tuesday, the leaders of Brazil and Argentina said that Mercosur would focus on strengthening its relationship with Mexico and other Latin American nations alarmed by U.S. President Donald Trump's promises to tear apart trade deals and build a wall in the Mexican border. Mercosur aims to promote free trade and the fluid movement of goods, people, and currency, amongst Latin American countries (link).
- According to a report published earlier this week, 43.4% of real estate contracts in Brazil were defaulted. The increase in default rate was expected due to the rising unemployment, but according to executives in the construction sector the large scale was triggered mainly by investors who bought real estate thinking of their valuation and, as the market stagnated they feared losing money and cancelled their contracts (link).
- Mexican Tequila maker José Cuervo went public on Thursday, raising 18.363 billion pesos, about US $910 million, exceeding expectations by at least 3 billion pesos. Shares in the world’s biggest tequila maker were priced on Wednesday at 34 pesos, at the top of their expected range, and on Thursday rose over 8% to 37 pesos when markets opened (link).
- In the northern part of Peru, the government is set to declare a health emergency following reports of more than 80 new cases of dengue fever in the wake of heavy rains and flooding. Due to the puddles of stagnant water, the Peruvian Health minister also highlighted the increased risk of the chikungunya and zika viruses (link).
- End of Week Market Updates
- Merval (Argentina): + 1.72%
- Bovespa (Brazil): + 1.80%
- IPSA (Chile): + 1.18%
- IGBC (Colombia): - 1.43%
- IPC (Mexico): + 1.21%
- BVL (Peru): + 1.81%