EMERGING MARKETS-Latam stocks, currencies seesaw ahead of Yellen speech

jueves 25 de agosto de 2016 11:23 GYT

SAO PAULO, Aug 25 (Reuters) - Latin American stocks and
currencies seesawed on Thursday as traders avoided big bets
ahead of U.S. Federal Reserve Chair Janet Yellen's speech on
    Investors have been eagerly awaiting Yellen's remarks at the
global central bankers meeting in Jackson Hole, Wyoming, since
late last week.
    Comments by various Fed policymakers have raised
expectations that the U.S. central bank could be eyeing an
interest rate increase as soon as September, reducing the allure
of high-yielding emerging market assets.
    Also fostering caution in Brazilian markets was suspended
President Dilma Rousseff's trial at the Senate, which was widely
expected to permanently confirm her impeachment. 
    A final vote is likely to confirm her vice president Michel
Temer as Brazil's new leader late on Tuesday or in the early
hours on Wednesday. Rousseff is charged with meddling with
fiscal accounts but denies any wrongdoings.
    "From a market standpoint, the impeachment of President
Dilma should be close to fully priced," Goldman Sachs economist
Alberto Ramos wrote in a report.
    "Hence, post-impeachment, the market will likely focus on
the willingness and capacity of the Temer administration to
accelerate and deepen the fiscal adjustment, and the capacity to
engage the allied base in Congress towards that goal."
    Brazil's real currency slipped 0.4 percent while the
benchmark Bovespa stock index advanced 0.5 percent,
supported by financial shares.
    Key Latin American stock indexes and currencies at 1515 GMT:
 Stock indexes                               daily %   YTD %
                                              change  change
 MSCI Emerging Markets               898.47     0.19   12.92
 MSCI LatAm                         2431.51     0.45   32.28
 Brazil Bovespa                    58012.70     0.51   33.82
 Mexico IPC                        47722.39    -0.04   11.04
 Chile IPSA                         4153.14    -0.16   12.85
 Chile IGPA                        20560.60    -0.11   13.27
 Argentina MerVal                  15885.90     0.44   36.07
 Colombia IGBC                     10089.41     0.22   18.04
 Venezuela IBC                     11915.82     0.01  -18.32
 Currencies                                  daily %   YTD %
                                              change  change
 Brazil real                         3.2355    -0.41   21.99
 Mexico peso                        18.4380     0.06   -6.55
 Chile peso                             665     0.75    6.72
 Colombia peso                      2917.59     0.86    8.63
 Peru sol                             3.352     0.00    1.85
 Argentina peso (interbank)         14.8825    -0.15  -12.77
 Argentina peso (parallel)            15.46     0.32   -7.70

 (Reporting by Bruno Federowski; Editing by Meredith Mazzilli)