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EMERGING MARKETS-Mexico peso up on NAFTA outlook, Brazil stocks dip

Mexico's peso firmed on Friday after U.S. and Mexican officials said they were close to settling differences in NAFTA trade talks, while Brazilian equities slid on presidential race jitters. Mexico's peso shook off losses to gain about 0.6 percent after a top White House economic adviser said on Friday that Washington was "very, very close" to clinching a trade deal with Mexico. Mexico's economy minister said earlier that he ho

Lower recovery rates to haunt US leveraged loans

NEW YORK, Aug 17 (LPC) - Overwhelming demand for floating-rate leveraged loans has eroded credit quality and will lead to more defaults and lower recovery rates in an economic downturn, according to ratings agency Moody’s.

EMERGING MARKETS-Brazilian equities drop amid political woes, lira rout

Brazilian equities slid on Friday after a major opinion poll painted a grim picture for the market's favorite presidential candidates, while concerns regarding Turkey's lira currency lingered. A poll released on Friday by Sao Paulo's XP Investimentos showed right-wing populist congressman Jair Bolsonaro leading the field for October's presidential election, assuming that former leftist President Luiz Inacio Lula da Silva is barred from running due to corrupt

M&A lending to US blue-chip firms on summer hiatus

NEW YORK, Aug 17 (LPC) - Bank lending to high-quality US companies to fund acquisitions has slowed due to concern over government policies amid the summer doldrums, but is expected to pick up after the Labor Day holiday, bankers said.