On Brazil, Mexico & S&P 500 Earnings Revisions

As Brazil’s economy falters, its central bank has not eased, more determined to tame inflation than spur economic growth. Such Volcker-esque monetary policy has put bank chief Gabriel Galipolo in the hotseat, William reports, and at odds with President Lula. Will looser fiscal policy revive the swooning economy or will it be taken too far for political reasons? … Also: Tearing a page from Trump’s playbook, Mexico has imposed its own 50% tariffs on imports from Asia. Melissa explores the reasons Mexico doesn’t want to be China’s backdoor into US markets. … And: For a fifth straight month now, Joe reports, analysts’ earnings revisions have been net positive and to a strong degree.