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EMERGING MARKETS-LatAm FX, stocks climb as yen intervention jitters weaken dollar

Latin American stocks and currencies rose on Monday, buoyed by a weaker dollar amid speculation of Japanese yen intervention. The MSCI LatAm index increased by 0.5%, while stocks gained 1.1%. Brazil's real appreciated by 0.4%, and Mexico's peso surged 0.6%, reaching a yearly high. Conversely, Colombia's peso fell by 1.1%. Ukraine's bonds rebounded on hopes of renewed talks among the U.S., Russia, and Ukraine. Analysts expect continued volatility in the FX market ahead of Japan's elections on February 8.

The People's Bank of China held its 2026 Macroprudential Work Conference, conducting a forward-looking assessment of potential systemic financial risks.

The People's Bank of China (PBOC) held its 2026 Macroprudential Work Conference, focusing on systemic financial risks. The conference outlined the need for a comprehensive macroprudential management system, enhancing the central bank's functions, and improving the Macroprudential and Financial Stability Committee's mechanisms. It emphasized expanding macroprudential policies, innovating policy tools, and ensuring financial market stability. Additionally, it called for improved RMB policies, trade facilitation, and support for Shanghai's development as an international financial center.

The MSCI Emerging Markets Stock Index rose 0.4%, reaching a record high and marking its fifth consecutive trading day of gains, the longest streak since May 2025. Asian tech stocks such as Alibaba, Taiwan Semiconductor, and MediaTek Inc. performed notably well. Year-to-date in 2025, the index has accumulated an increase of approximately 7.0%, while the S&P 500 has only risen about 1%. Latin American stock markets also saw gains, with the regional index up about 1.3%, accumulating nearly 14% this year. The MSCI Emerging Markets Latin America Stock Index reached a closing high not seen since 2018, and Brazil's benchmark stock index rose about 8.7% this week

The Brazilian stock index once rose over 1.1%, reaching an intraday historical high above 177,500 points. In US dollar terms, the Brazilian stock index has accumulated a 9.7% increase this week, leading globally

Brazil's central bank to roll over swaps maturing in March

Brazil's central bank said it will hold auctions starting on January 28 to roll over traditional currency swaps due on March 2.The central bank usually seeks to provide currency hedging and maintain liquidity conditions for the market with its rolling policy.In a traditional currency swap, the bond pays the buyer the currency variation plus an interest rate.In return, the central bank receives the variation in the Brazilian benchmark interest rate, the Selic.