Media and LatAm Navel Gaze: April 3, 2017
Leakers and liars could be the new name for the White House day or nighttime drama with former National Security Advisor Michael Flynn asking for immunity to talk about Russia while inside 1,600 documents flowed freely giving the first 100 days a Spy v Spy feel more than a global leader on democracy freedom.
Elsewhere:
- Brexit is now a real thing with UK’s Theresa May finally signing all the official documents to set the plan in motion;
- In another big “undoing,” President Trump began his official big review of relaxing climate-change rules with an order “end the war on coal,” keeping to a campaign promise;
- April Ryan, a veteran White House reporter for American Urban Radio, gave new a viral meaning to SMH to Sean Spicer;
- Really no big surprise on the $$ front but the Ivanka/Jared purse is worth some $741 million putting bigger and bigger scrutiny on their closer and closer official ties to White House advisory roles;
- Stocks had a mostly down month (a bit) with the Dow down 0.7 percent in March but up 4.6 percent for the quarter as the Trump trade started the year of strong but seemed to fade in recent weeks;
- Westinghouse Electric filed for bankruptcy;
- The bathroom laws were repealed in North Caroline showing money and sporting events way matter:
- Where’s the Beef? No longer the freezer with McDonald’s saying it will use fresh beef instead of frozen after 40 years of the big chill; and
- Gonzaga v UNC.
LatAm Gaze:
- Quarterly recap: Latin American equities continued to rally during the first quarter, led by Argentina’s Merval index (15.77% return) and the IPSA in Chile (15.22%), with Brazil’s Bovespa a distant third returning 9.05%.
- A devastating mudslide in Colombia has killed at least 193 people in the country’s southwest region as over 1,100 search and rescue units have been deployed sent to the scene.
- In Argentina, Citi has opened a national network of corporate and institutional branches, an investment totaling US$150 million.
- In Mexico, the ALTÁN Networks selected Nokia and Huawei as key technology providers to help pioneer a 5G cellular network in Mexico by March 31, 2018. Investment in this project totals over US$ 7 billion dollars. Separately, Mexico’s Central Bank raised its key interest rate by 0.25 basis points to 6.5% in an effort to contain inflation.
- Venezuela’s supreme court reversed a decision this week that would have stripped the assembly, controlled by the opposition, of legislative power.
- Ecuador on Sunday will hold the second round of its presidential elections, pitting leftist Lenín Moreno, who worked under President Rafael Correa, and Guillermo Lasso, a former banker.
- In Chile, mediator Robert Rivas extended a moratorium by which customers of struggling private health insurer Masvida can switch providers, with the goal of providing enough time for a potential sale of the company to Nexus. Mr.Rivas is also working on establishing a creditor repayment plan.
- In Brazil Eduardo Cunha, former head of Brazil’s lower house of congress, and the lead-politician driving the impeachment of former President Dilma Rousseff, was sentenced to 15 years in prison on charges of corruption and embezzlement.
- Market Updates
- End of Week
- Merval (Argentina): + 2.84 %
- Bovespa (Brazil): + 1.77%
- IPSA (Chile): + 0.47%
- IGBC (Colombia): + 0.80%
- IPC (Mexico): - 1.10%
- BVL (Peru): + 1.58%
- End of Quarter
- Merval (Argentina): + 15.77%
- Bovespa (Brazil): + 9.05%
- IPSA (Chile): + 15.22%
- IGBC (Colombia): + 0.85%
- IPC (Mexico): + 6.23%
- BVL (Peru): + 1.43%
