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DI Swap Rates Share Real Optimism

BRAZIL
  • Rejuvenated optimism in the Real, exhibiting 1.5% gains being echoed in the DI curve where local swap rates are falling between 15-20 bps in the longer end. Continued lack of data on the docket for the rest of the week will turn the focus to the mid-month IPCA reading next Tuesday. This will be the final print before the next COPOM meeting on May 5th.
  • USDBRL down 1.22% at 5.4993
  • Brazil DI Swaps:
    • - 1-yr -4 bps at 4.65%
    • - 2-yr -12 bps at 6.255%
    • - 5-yr -19 bps at 8.14%
    • - 10-yr -15 bps at 9.03%

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