Media and LatAm Navel Gaze: August 28, 2017

Mark Kollar,  Ligia Vela-Reid

Harvey hit Texas hard with damage estimates too early to calculate but reports don’t look good as news crews turned focus to the storm, leaving little air time for some big developments out of Washington such as a controversial pardon of sheriff Joe Arpaio (many are to be fair but this one is causing some Reps to cry foul), the government shutdown threat tied to the wall and pending budget fights. 

Elsewhere:

  • Whole Foods becomes part of Amazon officially on Monday, amid expectations for cheaper cashew butter;
  • Fed officials and their wonks have decamped in the Tetons to talk rates and regulations during their summer vacations, with Fed Chief Yellen warning all to be careful about financial-rule rollbacks lest memory forgets;
  • The Dow inched up 0.6 percent on the week to end at 21,813;
  • The Samsung heir was sentenced to five years in prison amid a bribery scandal
  • Floyd Hublot Mayweather happened, again

LatAm Gaze: 

  • On Wednesday, the Argentine, Government refinanced all the maturities of Treasury Bills for US $750 million and extended the placement of a peso bond for almost $30 billion.
  • On Wednesday, the Brazilian government announced a plan to privatize 57 federal holdings, including  the privatization of power utility company Eletrobras, in hopes these will yield R$44 billion, and thus increasing its revenues and boosting the economy.  
  • On Thursday, Moody's Investors Service changed Chile's rating outlook to "negative" from "stable," this is due to the lower growth of the Chilean economy which has suffered a structural shock, caused by lower average copper prices and a decrease in productivity.  
  • In Mexico, the self-service group segment made up of Wal-Mart, Chedraui and Soriana reported their lowest growth on sales floor since 2012 , due to the slowdown reflected in their revenues and the consolidation of mergers.  
  • Venezuela, has banned Colombian television station Caracol and RCN  due to the channels "terrible campaign" against Maduro’s government.  
  • End of Week Market Updates
    • Merval (Argentina): +2.27%
    • Bovespa (Brazil): +3.43%
    • IPSA (Chile): +1.17%
    • IGBC (Colombia): -0.32%
    • IPC (Mexico): +0.58%
    • BVL (Peru): + 1.83% 

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