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US 10YR FUTURE TECHS

(H2) Approaching The Key Bear Trigger

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Continuing to see adjustments to Brazil's growth outlook:

  • Brazil 2021 GDP Growth Est. Cut to 4.5% From 5.1% at UBS (BBG)
  • XP slashes Brazil 2022 GDP growth forecast to zero (BBG)
  • JPMorgan also now forecast 2021 and 2022 GDP of +4.6%y/y and -0.2%y/y, respectively (from 4.8%y/y and 0% before).