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BRL Rallies, Pressure On DI Curve

BRAZIL

Latest headlines cap off a solid day for the Brazilian Real, rallying against both the dollar and the Mexican peso:

  • *BRAZIL CONFIRMS PURCHASE OF 138M DOSES OF PFIZER, JANSSEN
  • USDBRL down 1.61% at 5.4724
  • BRLMXN up 1.66% at 3.745
After the flattening move yesterday, longer end local swap rates back under pressure today with the curve bear steepening to end the week.

Brazil DI Swaps:

  • 1-yr +4 bps at 4.615%
  • 2-yr +6 bps at 6.22%
  • 5-yr +19 bps at 7.82%
  • 10-yr +23 bps at 8.51%

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