* Brazil's Guedes signals one-off waiver to spending cap * Brazil's real drops ~2%, stocks lose 3% * Petrobras slips as Q3 production falls y-o-y * Mexico's Alfa rises on raising 2021 core earnings forecast (Updates prices) By Ambar Warrick and Susan Mathew Oct 21 (Reuters) - Brazil's real tumbled almost 2% and stocks slumped to 11-month lows on Thursday as concerns over fiscal spending were compounded by weak sentiment, with most other Latin American currencies falling as inflation fears sapped risk appetite. The real dropped to a fresh six-month lows and the 10-year bond hit 3-year lows after economy minister Paulo Guedes opened the door to a one-off breach of a constitutional spending cap to pay for a bigger welfare program proposed by Brazilian President Jair Bolsonaro.
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PBR, ASO, and GIII made it to the Zacks Rank #1 (Strong Buy) value stocks list on October 20, 2021.