SITREP for Nov 19 2024
Andrew Sheves Good morning.
Two quick headlines worth noting.
An undersea cable between Germany and Finland was severed on Monday. The German Defence Minister noted that “nobody believes that these cables were cut accidentally”. [SOURCE - BBC] Note - Russia is the likely culprit here, and this fits with Moscow’s larger ‘hybrid war’ strategy they are pursuing across Europe.* See the **Washington Post *for more.
Ukraine is reported to have used the long-range ATACMS missiles to hit targets in Russia for the first time since the US approved their use over the weekend. [SOURCE - Bloomberg]
Commodity and Rate Snapshot
🛢️** Crude Futures (WTI)**
$68.72
💵 **USD:EUR **
$1.056 (Price of 1EUR in USD)
₿ Bitcoin
$91,773.88
As at Nov 19, 06:00ET -Data is illustrative, not for decision-making.
Financial data via Bloomberg, Freightos and AlphaVantage
Americas Stability Ratings and News Summary
More Unstable
🇧🇧 Barbados, 🇧🇿 Belize, 🇧🇴 Bolivia, 🇧🇷 Brazil, 🇨🇦 Canada, 🇨🇴 Colombia, 🇨🇺 Cuba, 🇩🇴 Dominican Republic, 🇪🇨 Ecuador, 🇸🇻 El Salvador, 🇬🇩 Grenada, 🇬🇹 Guatemala, 🇬🇾 Guyana, 🇭🇹 Haiti, 🇭🇳 Honduras, 🇯🇲 Jamaica, 🇲🇽 Mexico, 🇳🇮 Nicaragua, 🇵🇦 Panama, 🇵🇪 Peru, 🇸🇷 Suriname, 🇹🇹 Trinidad and Tobago, 🇺🇸 United States Of America, 🇻🇪 Venezuela
More Stable
No countries were more stable over this period
Unchanged
🇦🇬 Antigua and Barbuda, 🇦🇷 Argentina, 🇨🇱 Chile, 🇨🇷 Costa Rica, 🇩🇲 Dominica, 🇵🇾 Paraguay, 🇰🇳 Saint Kitts and Nevis, 🇱🇨 Saint Lucia, 🇻🇨 Saint Vincent and the Grenadines, 🇧🇸 The Bahamas, 🇺🇾 Uruguay
Regional News Summary
Brazil is grappling with economic instability as state-owned companies report their highest deficit in over two decades, raising alarms about the government’s financial health and investor confidence. This situation is compounded by the exclusion of the OECD from the upcoming G20 summit, which has sparked concerns regarding Brazil’s commitment to global economic cooperation and its increasing isolationism. Meanwhile, BTG Pactual, a leading Brazilian bank, reported a 15% increase in quarterly adjusted net income, providing a glimmer of hope for the financial sector amidst broader economic challenges [SOURCE - RIO TIMES ONLINE].
Trade tensions are also affecting Brazil, as the ongoing trade war between the United States and China has led to a decline in exports and rising trade deficits for several Latin American countries, including Brazil [SOURCE - THE HINDU].
In Mexico, the economy is showing resilience, particularly in the auto sector, which has achieved a significant trade surplus with the U.S. However, this success is threatened by potential tariffs from the Trump administration, which could ignite a trade war. To mitigate these risks, Canada has proposed a trade deal that excludes Mex
Carpe tomorrow!