Macquarie Said to Close Latin America Fixed-Income Group

Sept. 13 (Bloomberg) -- Macquarie Group Ltd., Australia's largest investment bank, closed its Miami office and shut down its Latin America fixed-income business, according to a person familiar with the matter.

John Welch, chief emerging-market strategist for the bank, was among those fired in the move, said the person, who asked not to be identified because the information hasn't been made public. Paula Chirhart, a spokeswoman in New York for Sydney- based Macquarie, declined to comment.

China Media Amps Up Latin America Coverage

A new forecast by the International Monetary Fund predicting slower economic growth is providing some tough love for the global recovery. But a new highway linking Peru's Pacific ports with the Amazon and China's strategic investments in Brazil, Argentina and Colombia could provide a silver lining for Latin America's economic future.

China's version of dollar diplomacy is helping to insulate Latin economies from the crisis. But it's also creating disputes over dumping, energy policy and technology that are similar to those that exist between Latin nations and the United States.

Brazil July Retail Sales Underscore Strong Demand

RIO DE JANEIRO (Dow Jones)--Brazilians continued their spending spree in July, shrugging off higher interest rates and stiffer credit terms to keep domestic demand in Latin America's largest economy heated.

Retail sales in July climbed a seasonally adjusted 1.4% from June, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday. July sales were also up 7.1% from July 2010, and have advanced 8.5% over the past 12 months. The advance was greater than the median forecast of analysts polled by the Estado news agency, which projected a sales gain of 1.03% in July versus June. The forecasts fell within a range between growth of 0.3% and 1.6%.

Iranian vice president due in Latin America

TEHRAN (ISNA) – Iranian Vice President Mohammad Reza Rahimi departed for Havana Tuesday morning to take part in Iran-Cuba 15th joint commission meeting on commerce and meet with Cuban officials.

After his visit to Cuba, Rahimi is supposed to travel to Ecuador and meet with the officials.

“Iran’s relation with Latin American countries has broadened in recent years,” said Iranian vice president before his departure to Cuba.

Latin America’s blind love with China may be over

After a decade of record Latin American exports to China, which helped the region grow significantly despite the recent global recession, there are signs that the honeymoon may be coming to an end.

Growing numbers or Latin American business leaders and trade experts are complaining that China is buying almost exclusively raw materials from the region, while refusing to purchase more sophisticated — and expensive — Latin American goods, thus preventing the region from having more diversified economies.

October Rate Cut Prediction Shows U.S. Slump Spilling Over: Mexico Credit

Mexico will follow Brazil and Turkey in cutting interest rates next month to help shield the economy from a slowdown in the U.S., swaps trading shows.

Yields on futures contracts for October, known as TIIE, sank 11 basis points in the past month to 4.73 percent, indicating traders expect central bank Governor Agustin Carstens to lower the benchmark 4.5 percent rate when the board meets Oct. 14. Those wagers signal a reversal for traders who expected as recently as Aug. 25 that Carstens’s next move would be to raise borrowing costs from a record low.

Brazil 2011 inflation forecast tweaked higher

SAO PAULO, Sept 5 (Reuters) - Economists raised their forecast for Brazil's benchmark inflation index this year to 6.38 percent from 6.31 percent previously, according to a weekly central bank survey published on Monday.

Economists forecast growth of 3.67 percent in Latin America's biggest economy this year, down from a 3.79 percent forecast in the previous survey.