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EMERGING MARKETS-LatAm stocks, currencies drop on bets of U.S. rate hike
March 2, 2017 / 4:08 PM / 9 months ago

EMERGING MARKETS-LatAm stocks, currencies drop on bets of U.S. rate hike

    By Bruno Federowski
    SAO PAULO, March 2 (Reuters) - Latin American stocks and
currencies fell on Thursday on growing expectations of a March
U.S. interest rate increase that could reduce the allure of
high-yielding assets.
    Several Federal Reserve officials have stressed in recent
days that a rate hike could come as soon as this month.
    Late on Wednesday, Fed Governor Lael Brainard said an
improving global economy and a solid U.S. recovery mean a raise
will be "appropriate soon."
    The Brazilian real slipped 1.1 percent but remained
close to the strongest levels in nearly two years. The Mexican
 and Colombian pesos also weakened.
    Brazil's benchmark Bovespa stock index fell 1.5
percent, with shares of drinks company Ambev SA the
biggest decliners.
    The São Paulo-based subsidiary of Anheuser-Busch InBev NV
 reported weak quarterly sales and rising costs in its
main market of Brazil.
    Yields paid on Brazilian interest rate futures were nearly
flat as traders remained split on a potential acceleration of
interest rate cuts following the release of last week's central
bank policy minutes.
    
    Key Latin American stock indexes and currencies at 1550 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                  Latest              
 MSCI Emerging Markets               935.20    -0.35     8.84
 MSCI LatAm                         2581.56    -1.31    11.76
 Brazil Bovespa                    65991.87    -1.49     9.57
 Mexico IPC                        47078.12    -0.79     3.14
 Chile IPSA                         4414.85     0.34     6.35
 Chile IGPA                        22097.38     0.41     6.57
 Argentina MerVal                  19215.74    -0.73    13.58
 Colombia IGBC                      9858.55    -0.32    -2.66
 Venezuela IBC                     36222.51    -0.02    14.25
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                     Latest           
 Brazil real                         3.1252    -1.05     3.97
 Mexico peso                        19.9240    -0.62     4.12
                                                      
 Chile peso                           655.9    -0.82     2.26
 Colombia peso                       2964.4    -1.23     1.25
 Peru sol                              3.27    -0.34     4.40
 Argentina peso (interbank)         15.3600     0.42     3.35
                                                      
 Argentina peso (parallel)            15.95     1.82     5.45
                                                      
 
 (Editing by Bernadette Baum)
  

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