Good morning. Wall Street is back from Memorial Day and back at records — S&P +0.61% to 7,519, Nasdaq +1.19% on a Micron-led chip surge that crossed $1 trillion. Asia ripped overnight, the Nikkei past 65,800 and Kospi +4.84%.
In Latin America, Argentina exploded +2.75% on its holiday reopen to a record 2.92M. Colombia jumped 4.48% as the right consolidates four days before the vote. Brazil decoupled lower (−0.69%); Brent slid another 5% to $94.45.
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IBOVESPA
176,589
▼ −0.69%
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USD/BRL
5.03
back above 5
|
IPSA · CHILE
10,747.02
▼ −0.73%
|
MERVAL · ARG
2,924,356
▲ +2.75% · record
|
|
COLCAP · COL
2,228.30
▲ +4.48%
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IPC · MÉXICO
69,198
▲ +1.37%
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BRENT
$94.45
▼ −5.15%
|
S&P 500
7,519.12
▲ +0.61% · record
|
Brazil reopens Wednesday having decoupled from a record global tape. Monday's bounce faded on Tuesday: the Ibovespa slipped 0.69% to 176,589, giving back two-thirds of the prior session's gain and dropping back to the cloud floor it had just reclaimed.
The real reversed in tandem — USD/BRL climbed off the 4.9836 low to 5.03 and surrendered the clean break through 5.04. The decoupling is the story because the global tape went the other way: Wall Street to fresh records on a Micron-led surge, Asia following overnight, Brent sliding another 5% to $94.45 on Iran-Hormuz progress.
The domestic catalyst is the 08:00 BRT IPCA-15 print (consensus 0.53% MoM against prior 0.89%) — the read that decides whether the real resumes lower or the dollar holds.
Read the full Morning Call →Brazil gave back two-thirds of Monday's bounce on Tuesday, slipping to the cloud floor it had just reclaimed.
The real reversed alongside — USD/BRL bounced off 4.9836 to 5.03 and surrendered the clean break through 5.04. The IPCA-15 print at 08:00 BRT decides whether the real resumes lower or the dollar holds. With WTI near $91 the disinflation positive remains, but Petrobras carries the headwind for a second session.
Full report →Also from Brazil — the national development bank wants to extend its critical-minerals strategy offshore into seabed mining, with Petrobras alongside Vale and the Navy mapping strategic seabed areas.
On land it is already weighing 56 critical-minerals projects worth around R$50 billion (~$10 billion) — a push to ease the region's reliance on Chinese chains.
Mexico's best session in weeks cleared the moving-average cluster (68,579–69,248) that had rejected every recent attempt.
The move was the anchor catching a bid, not a new catalyst: Banxico done easing at 6.50% with a ~3.5-point cushion over the Fed, Friday's EU pact diversifies away from Washington, and there is no election to price. The peso parked near 17.30; the mid-June World Cup co-hosting is the next visible tailwind.
Full report →Chile slipped only a fraction of Monday's copper-amplified 2.48% surge on a quiet red candle. Digestion, not a turn — even on a down day the MACD turned positive and the RSI held above its midline. BCCh at 4.50% with a June cut to 4.25% in view.
Separately, the Finance Ministry cut its 2026 growth forecast to 2.1% (from 2.4%) after a 0.5% Q1 contraction — the weakest start since 2009 — with mining seen flat for the year.
Full report →BYMA reopened after Monday's Día de la Revolución holiday and priced two days of news at once: opening exactly at Friday's close and running to a fresh local high. The breakout candle cleared the 200-day line and the cluster that had capped the tape.
Country risk near the symbolic 500 bp threshold, BCRA reserves close to a Milei-era record. In New York the Argentine ADR complex exploded on pent-up demand — BBVA Argentina +8.97%, Supervielle +6.43%, Galicia +5.42%, Banco Macro +5.12%.
Full report →Colombia's biggest single-day move in months, clearing the 200-day line in one candle. Public polls are frozen during the blackout, but prediction markets show the conservative vote consolidating behind far-right lawyer Abelardo de la Espriella.
He has overtaken Paloma Valencia as the strongest challenger to leftist Iván Cepeda. A unified right improves the runoff math against Cepeda, who leads but cannot cross 50%. The IIF separately projects Colombia growing just 2.3% in 2026, ninth in the region.
Full report →Wednesday's Pulse opens with a second American supermajor entering the Venezuelan frame. ExxonMobil and ConocoPhillips are both in active negotiations with the Rodríguez government for contractual guarantees to return, nearly two decades after the 2007 nationalisation.
With Chevron's Petroindependencia template already operating, a deal could be announced before month-end — turning a single-company story into a structural reopening.
In Bolivia, the government opened two parallel dialogue tracks as the state-of-exception abrogation advances; the labour federation rejected all parallel talks. Mexico's president reported a record Q1 foreign-investment print of $23.6 billion alongside a contested 44% homicide-reduction claim.
Brazil's Q1 current-account deficit narrowed sharply to USD−1.77B (from USD−6.04B prior). And in Chile, Codelco's governance crisis runs on under the new Fontaine chair.
Read the Latin American Pulse →Colombia's Ecopetrol launched a tender for 25% of Brazil's Brava Energia at R$23/share — a 20.9% premium, step toward a 51% controlling stake of one of Brazil's largest independent oil and gas producers.
Nubank nears 5 million customers in Colombia — roughly one in ten adults. Parent Nu Holdings is now over 135 million customers across Brazil, Mexico and Colombia, with quarterly net income of $871M (+41% YoY).
In aviation, Avianca doubles its Barcelona–Bogotá route to 14 weekly and lifts Madrid–Bogotá to 28 weekly for the summer.
In ride-sharing, France's BlaBlaCar launched in eight new LatAm countries (Argentina, Chile, Colombia, Bolivia, Ecuador, Paraguay, Peru, Uruguay), betting that high fuel prices and patchy inter-city transport drive adoption.
In pharma, Brazil's regulator approved Ozivy — the country's first local rival to Ozempic — made by EMS, following the March semaglutide patent expiry.
Riding the same wave, meat giant MBRF is investing R$500M (~$88M) in collagen and gelatin, aiming to triple Gelprime's Paraná plant capacity to 30,000 tonnes/year on protein-preservation demand from weight-loss drug users.
Today's Global Economy Briefing opens with the chip-led record: Micron jumped ~19% and crossed a $1 trillion valuation on a UBS upgrade flagging 100%+ upside, dragging the S&P to 7,519.12 and Nasdaq to 26,656.18.
But the bond market flinched — the 2-year auction tailed to 4.071% (from 3.812%), confirming traders no longer expect Fed cuts this year. Japan BoJ Core CPI hit 2.8% against 1.7% consensus, hardening the normalisation case.
Tuesday's four regional intelligence briefs add the rest of the world Latin America wakes up to. In Asia, the Quad in New Delhi delivered a maritime surveillance initiative, a critical-minerals framework and a first joint infrastructure project (a port in Fiji); KOSPI hit a fresh record at 8,047.
In Europe, Russia's foreign ministry warned the US to evacuate Americans from Kyiv as it announced "systematic and consistent strikes," and the UK published 18 new sanctions targeting the Kremlin-backed A7 evasion network.
In the U.S. & Canada, Texas voters held the Trump-endorsed Paxton vs. Cornyn Senate runoff while Premier Smith set an October 19 vote on Alberta starting its separation process.
In Africa, HRW alleged UAE-linked recruitment of Colombian mercenaries who fought at genocide-marked El Fasher, and Moody's upgraded South Africa's outlook to positive for the first time since 2007.
Read the LatAm Pre-Open →— The Rio Times newsroom
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