LatAm Trading Catalysts: Activity in BZ, CO & PE, Kast’s reform in Chile, op. results for BZ homebuilders

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LatAm Trading Catalysts: Activity in BZ, CO & PE, Kast’s reform in Chile, op. results for BZ homebuilders

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LatAm Trading Catalysts

Activity in BZ, CO & PE, Kast’s reform in

Chile, op. results for BZ homebuilders

Investment Strategy

Econ: activity in BZ, CO & PE; inflation in AR & US 13 July 2026

Brazil will release a set of activity indicators this week: services volume (Wed), retail Investment Strategy

sales (Thu), and IBC-Br (Fri). We expect IBC-Br to grow 0.1% momsa (from 0.5%) and Latin America

0.4% yoy (from 0.9%) in May, as contractions in services and industry should be partially Equity Strategy

offset by a modest expansion in retail sales. Colombia will release retail sales and Paula Andrea Soto, CFA >>

industrial production on Wed. Peru will release its activity index on Wed. In Argentina, LatAm Equity Strategist Merrill Lynch (Brazil)

focus on inflation (Tue). In the US, all eyes on CPI (Tue), see report: CPI Preview. +55 11 2188 4226

paula.soto@bofa.com

>>Eq. strategy: EM inflows go to EM tech DavidBz Econ/FIBeker& LatAm EQ Strategy

Outflows from EM (ex-China) accelerated in June, though investors continued to rotate Merrill Lynch (Brazil)

into tech-heavy EMs (South Korea and Taiwan) and out of LatAm. In Brazil, foreigners +55david.beker@bofa.com11 2188 4371

were net sellers in June. They sold Financials & Staples and bought Energy & Utilities. Carlos Peyrelongue >>

Redemptions from local equity funds in Brazil slowed down, but equity allocation is close Mex Eq Strat/Research Analyst

Merrill Lynch (Mexico)

to historical lows. For more details, see report: Flows to know. +52 55 5201 3276

carlos.peyrelongue@bofa.com

Chile may hold a final vote on Kast's megarreform Mateus Conceicao >>

LatAm Equity Strategist