Chile, Mexico, Argentina: Latin American Currency, Bond Preview

By Drew Benson

Oct. 3 (Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous day's session.

Argentina: Tax revenue probably reached $23.3 billion last month, down from $24 billion, according to the median estimate of a Bloomberg News survey of 10 economists. The government is expected to release the data today.

Argentina's peso weakened 0.3 percent to 3.1432 per dollar, from 3.1345 yesterday.

The yield on Argentina's inflation-linked peso bonds due in December 2033 jumped 57 basis points, or 0.57 basis points, to 11.93 percent, according to Citigroup Inc.'s local unit.

Chile: The consumer price index during September likely rose by 9 percent from the year before, according to the median forecast of 17 economists in a Bloomberg News survey. The National Statistics Agency is to release the data at 8 a.m. New York time.

The peso dropped 1.8 percent to 569.38 per dollar from 559.45 yesterday.

The yield for a basket of Chile's five-year peso bonds in inflation-linked currency units, known as unidades de fomento, fell 5 basis points to 3.2 percent, according to Bloomberg composite prices.

Mexico: The consumer confidence index likely fell in September to 89 from 89.6 in the prior month, according to the median of nine economists' estimates surveyed by Bloomberg. The data pegs January 2003 at 100. The data is to be released at 3:30 p.m. New York time.

The peso fell 0.1 percent to 11.2083 per dollar.

The yield on Mexico's 10 percent bond due in December 2024 fell 1 basis point, or 0.01 percentage point, to 8.39 percent.

Other closing prices:

Brazil's real slumped 5.4 percent to 2.0206 per dollar. The yield on the zero-coupon, real-denominated bond due in January 2010 rose 11 basis points to 14.6 percent, according to Banco Votorantim.

Peru's sol declined 0.4 percent to 2.9815 per dollar. The yield on the 8.6 percent sol-denominated bond due in August 2017 rose 1 basis point to 8.63 percent, according to Citibank Peru.

To contact the reporter on this story: Drew Benson in Buenos Aires at Abenson9@bloomberg.net.