It was either Telpuk or a photo of the fat bastard. Otto voted Telpuk (but not the plastic bits)
Gotta love The Mex Files, doing a far better job of keeping us up to date on the quiet yet game-changing things happening at PEMEX right now. Here's the report, and if you're into oil and stuff this is required reading. As the MexFiles correctly says,
"There hasn’t been much attention paid to PEMEX (and its big changes) from the U.S. press, and I expect if there is any mention, it will be more in the “holy shit, when did that happen?” vein."
Copper goes under $2/lb....wowsers. Expect cheap Chilean apples and wine at your local CostCo or Walmart soon.
As I suspected, the Argentine AFJPs that were dumping on the local market have been prohibited from trading for a week under a provisional court order (that may get extended indefinitely). Let's see how those bonds react. Remember, Argy bonds trading = only for the brave.
On the subject of the Argentine pensions, it's now lock sure guaranteed to get through Congress as veep Julio Cobos says he will support the bill.
In Peru, the Central Bank surprised nobody by lowering the bank reserve requirements last night, along with a couple of foreign money friendly moves. This might make the Nuevo Sol rally a little.
The Antonini Wilson suitcase trial thingy is still going on, by the way. I'm glad you don't care, because apart from the rabid hatemongers nobody does down here, either. It's like, "You mean there's corruption in South America? Oh wow....want a coffee? Did you see the futbol over the weekend? You think it's going to rain this afternoon?...kinda looks like it..". If you do care, check the Miami Herald for the latest in English. They care. I wonder why.......
"There hasn’t been much attention paid to PEMEX (and its big changes) from the U.S. press, and I expect if there is any mention, it will be more in the “holy shit, when did that happen?” vein."
Copper goes under $2/lb....wowsers. Expect cheap Chilean apples and wine at your local CostCo or Walmart soon.
As I suspected, the Argentine AFJPs that were dumping on the local market have been prohibited from trading for a week under a provisional court order (that may get extended indefinitely). Let's see how those bonds react. Remember, Argy bonds trading = only for the brave.
On the subject of the Argentine pensions, it's now lock sure guaranteed to get through Congress as veep Julio Cobos says he will support the bill.
In Peru, the Central Bank surprised nobody by lowering the bank reserve requirements last night, along with a couple of foreign money friendly moves. This might make the Nuevo Sol rally a little.
The Antonini Wilson suitcase trial thingy is still going on, by the way. I'm glad you don't care, because apart from the rabid hatemongers nobody does down here, either. It's like, "You mean there's corruption in South America? Oh wow....want a coffee? Did you see the futbol over the weekend? You think it's going to rain this afternoon?...kinda looks like it..". If you do care, check the Miami Herald for the latest in English. They care. I wonder why.......