Argentine equities experienced notable volatility in late June and early July 2025 amid fluctuating global market conditions and anticipation of MSCI index decisions. The S&P Merval index saw sharp declines of up to 5.3% before the MSCI decision, followed by rebounds exceeding 8% and a six-week high, supported by improved international sentiment. However, volatility persisted with the index falling nearly 2% and then recovering 2% driven by banking stocks. Argentine bonds showed mixed performance, with dollar-denominated bonds (Bonares) declining while Global bonds rose intermittently. In early July, Argentine ADRs listed on Wall Street initially dropped as much as 6%, influenced by a U.S. court ruling on YPF and broader Wall Street declines. Subsequently, the ADRs rebounded, rising up to 11% ahead of bond interest payments, coinciding with a 4% drop in the dollar. On the corporate front, EuroAmerica became the controlling shareholder of Clínica Las Condes following a capital increase. Additionally, Moller & Pérez Cotapos proposed an $8 million capital raise to advance development projects. Fixed income markets in Chile saw continued rallies in peso-denominated bonds amid a sharp drop in the latest consumer price index. Commercial loan placements were led by Bci, with Santander dominating consumer and housing loans. Philips announced plans to triple its Chilean business by 2027, focusing on airfryers and coffee machines. Meanwhile, state programs with implementation issues accounted for over $5.8 billion in investments, and Frontal Trust expanded its real estate projects in Peru with up to five residential developments planned for 2025.