Morning View

27/03/2024
27/03/2024

U.S. equity indices traded negative, with the Nasdaq giving up -0.4%

International

At yesterday's close, the main U.S. indices showed contractions. In particular, the S&P 500 and the Dow Jones fell -0.1% each, while the Nasdaq declined -0.4%. On the other hand, the Eurostoxx 50 rose +0.4% during the day and accumulates an increase of +12.0% for the year.

Afterwards, the yields of Treasury bonds in dollars remained stable. The yield on the 1-year bond closed at 5.0% and the yield on the 3-year bond at 4.4%. Meanwhile, the yield on the 10-year Treasury bond remained at 4.2%.

Tomorrow, in the Eurozone, the Consumer Confidence Index for March will be released. The market expects a reading of -15.5 points, which would be lower than the February figure of 14.9 points.

 

 

Latam

Mid-March inflation in Brazil exceeded expectations, registering +4.15% year-on-year

In Brazil, inflation in the first fortnight of March advanced +0.4% with respect to the previous period, and +4.15% y-o-y, decelerating with respect to February. It is worth noting that both performances exceeded analysts' consensus expectations, which estimated increases of +0.3% and +4.1%, respectively.

During the day, Mexico will announce the evolution of the trade balance for February, with the latest figure being a deficit of USD 4.315 million. Additionally, the unemployment rate for the same month will be published.

Latin American stock markets traded mixed yesterday. On the upside, Mexico's IPC stood out with +1.2%, followed by Chile's IPSA with +0.4%. Meanwhile, the main decliners were the Peruvian and Colombian stock exchanges with -2.2% and -0.9%, respectively.

In Argentina, economic activity in January contracted -4.3% y-o-y compared to the -6.3% estimated by analysts' consensus. Within this performance, only 5 sectors showed improvements, with Agriculture, Livestock, Hunting and Forestry (+11.1% y-o-y) standing out. In the monthly comparison, it registered -1.2%, slowing down the rate of decline.

26/03/2024
26/03/2024

Yields on 10-year Treasury bonds remain at 4.2%

International

Yields on U.S. dollar Treasury bonds remained stable. The yield on the 1-year bond remained at 5.0% and the yield on the 3-year bond at 4.4%. The yield on the 10-year Treasury bond remained at 4.2%.

At the close of trading on Friday, the main US stock market indexes showed contractions. In particular, the Nasdaq and the S&P 500 fell by -0.3%, respectively. In turn, the Dow Jones presented a contraction of -0.4% during the day. 

Meanwhile, WTI oil is trading at USD 81.9, up +1.6% on the day, while BRENT is at USD 86.7, up 1.4% on the day. 

 

 

Latam

In Brazil, mid-March inflation to be released, +4.1% y-o-y increase expected

During the day, Brazil will release its inflation figures for the first half of March, with analysts' consensus expectation of a +0.3% increase versus the previous period and +4.1% yoy. Additionally, the minutes of the Central Bank's last meeting will be released. 

Latin American stock markets opened the week with negative performances. In this sense, Peru's stock market and Chile's IPSA presented the most pronounced declines, with -0.4% and -0.3%, respectively, followed by Mexico's IPC and Brazil's Bovespa, with -0.1% in each case.

On the other hand, the prices of the main Latin American currencies had mixed performances at yesterday's close. Thus, the Mexican peso and the Brazilian real each fell -0.5%, while the Colombian peso registered the highest increase, with +0.2%. 

In Argentina, sovereign bonds in dollars maintained their upward trend at the beginning of the week, contrary to the performance of emerging and global markets. Local legislation bonds rose +0.6% on average, driven by the AL30 with +1.1%, while global bonds rose +0.5% on average across all maturities.


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