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Bull Flattening Momentum Ticks Up in Brazil Swaps W/W

BRAZIL
  • DI swap rates continued to drive lower in yesterday's session, closing -21-26bp bull flatter on the day in line with sustained gains in BRL.
  • The Pre-DI curve trade substantially bull flatter W/w with commitments on the fiscal side bolstering duration bets at the long end.
  • 6-14Y tenors stand -40-45bp lower on week as bullish momentum builds in BRL assets.


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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