On the other hand from the United States and with obvious agreement on the commercial issue with China, analyzes the focus of the event now with Turkey . Here, tensions escalated in the last wheels, with the understanding that this may have an impact on commodities – especially oil – Turkey is a strategic place for the United States.
Locally, inflation there is no doubt that it was the highlighted data. The index was in line with our estimates of 5.8-6%, at the end of September of 5.9%. That's not good data for inflation expectations, but as we said, it was within expectations.
We also understand that the gap in the gap between the official dollar and the market reference was one of the figures that leaves us the week and it is explained by the valuation security before October 27 and the limitations that the operation finds today due to of the currency controls introduced (and deepened weeks ago before 5-wheel parking is required)
When we stand at this point, next week we understand that caution will be maintained, in a framework where basic factors are already priced in the bonds. Meanwhile, in a scenario where volatility may increase we recommend that you consult before adopting a financial strategy or diversifying it outside of local risk.