This Bloomie headline about Vale (VALE) made me smile. “Vale “Ready to Explore” Alternative Iron Ore Pricing”. I mean, do you really need me to translate that into real English?
Chile’s CenBank drops rates 0.5% to 1.25%…a record low.
Peru’s CenBank drops rates 1% to 4%…plenty more to come, too.
But it’s not all bad, folks. Brazil’s telco Vivo (VIV) posted strong results. Notice that VIV is now managing to feed the bottom line from its revenue pile..the sign of a maturing telecoms market in Brazil. Basically, the major investment period is over and its payback time…we’ve seen this pattern many times before (Argentina, Mexico) and now Brazil, a country that has (somewhat surprisingly) lagged other regional telco markets is getting its turn at bat.