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BOND SUMMARY

EGB/Gilt - Finding some demand at the lows

US EURODLR OPTIONS

2Y Midcurve Put Spd

FOREX

EURUSD exchange traded option

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  • BRL the best performer yesterday surging nearly 2% versus Friday's lows. 5.00 remains the key technical/psychological hurdle on a closing basis, a sustained breach may target 4.82 June 2020 lows.
  • The central bank will publish their quarterly inflation report on Thursday before Friday's mid-month IPCA inflation readings.
  • Overnight Brazil's lower house approved the main text of the provisional measure that paves the way for the privatization of state-run power utility Eletrobras, with 258 votes in favour and 136 against, O Globo newspaper reported.
    • Lawmakers will still analyse some changes proposed, according to the media outlet.
    • The Bolsonaro administration expects to raise about 25 billion reais ($5 billion) from the share sale. The proceeds will go to the Treasury to pay for the renewal of concessions for Eletrobras hydroelectric plants and transmission lines.
    • The government will retain a golden share to veto hostile takeovers and other strategic threats.