Giovanna Bellotti Azevedo

Brazil has big ambitions for its plan to enter China’s onshore bond market — if only corporate Brazil follows along.

Election worries are starting to seep into Brazilian markets, prompting some investors to pare exposure to one of this year’s most rewarding carry trades as they brace for a bumpier ride into the October presidential vote.

Colombia’s local corporate bond sales are rebounding after four years in the doldrums as the election of a market-friendly government stokes investor demand for local assets and triggers a drop in sovereign yields.

Brazilian assets posted some of the biggest losses in the world this week amid growing angst over the October presidential election.

Grupo Casas Bahia SA filed for bankruptcy protection in Sao Paulo, after an out-of-court debt restructuring with its main creditors proved insufficient to resolve its financial troubles.

Mexico’s Braskem Idesa SAPI, a joint venture between Brazil’s Braskem SA and the conglomerate of Mexican tycoon Carlos Slim, has filed for bankruptcy protection as mounting financial strain and a worsening liquidity crunch weigh on the company.

Braskem SA said talks with creditors have intensified, but have yet to produce an agreement, with a deadline on a court-ordered shield from enforcement actions set to expire in just three days.

Braskem SA reached an agreement with its main creditors to pursue an out-of-court debt restructuring, according to newspaper O Estado de Sao Paulo.

Braskem SA’s announcement of an $11 billion debt restructuring staved off an immediate crisis that would have pushed it into bankruptcy protection. But the parties remain far apart on key issues ranging from terms of shareholder support to how existing debt will be reworked.

International bondholders emerged as the main backers of Braskem’s $11 billion debt rework, which gave the petrochemicals giant another 90 days to hammer out a plan to balance its finances.