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Economic Activity Data, Lula Interview In Focus

BRAZIL
  • Economic activity data is due at the top of the hour:
    • Dec. Economic Activity M/m, est. 0.10%, prior -0.55%
    • Dec. Economic Activity Y/y, est. 1.40%, prior 1.65%
  • President Luiz Inacio Lula da Silva will have an interview with CNN Thursday, keeping investors focused on the friction between him and the central bank, with traders looking for any comments on inflation goals and local rates.
    • Finance Minister Fernando Haddad’s remarks that inflation targets won’t be revised at the National Monetary Council meeting today have helped ease market concerns.
    • The committee formed by Haddad, Campos Neto and Planning Minister Simone Tebet will meet later today and traders will keep a close eye on any statement after the local market closes.
  • In local news, the board of the Brazilian retailer Americanas, currently under judicial recovery, has approved Leonardo Coelho Pereira as the new CEO, according to the company.
  • Brazil Treasury will offer fixed rate bonds maturing in 2024, 2025, 2026, 2029 and 2033; officials sold the entire amount of bonds offered at auction last week.

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