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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
BRAZIL
- Over the weekend, president Bolsonaro indicated that he has a plan B for Auxílio Brasil — a social program that will replace Bolsa Família — if the PEC dos Precatórios is not approved, without providing any details.
- Government is having difficulty in finding enough votes to pass the bill that will change the rules on spending cap bill.
- Pressure on swap rates eased on Friday, however, the front-end of the DI curve shifted roughly 125 basis points higher throughout last week.
- Continued volatility is expected as the central bank were unable to provide an adequate response within their statement to shore up investor sentiment. With a local holiday tomorrow, the Copom minutes will be published on Wednesday, where further details into the BCB board discussions will be analysed.
- Just announced: *Brazil to sell 150,000 NTN-B bonds in auction (BBG)
- The Brazilian real has opened broadly in line with Friday's close, however, may emulate the underperformance of EM peers - as MXN and ZAR drop despite the positive session for U.S and European index futures.
- Liquidity may be impacted with the impending local holiday with 5.7558, the Apr 13 high and 5.8064, the Mar 29 high acting as key levels of resistance for the pair
MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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