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Fin Min Guedes: Covid Spending Can Be Separate To Cap If Limited

BRAZIL
  • Brazilian economy showed resilience in February
  • It's up for the govt to offer mass vaccination
  • Brazil must extend 'BEM' jobs initiative
  • Brazil has to extend pronampe initiative
  • Political deals must fit in the budget
  • Covid spending can be off cap if limited (bbg)
    • USDBRL had a quick move higher to 5.80 on this last headline before immediately retracing.
    • The DI curve is broadly now unchanged after early bull flattening.


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