MNI BRIEF: Carney Says US Tariffs Will Boost Inflation, Rates

MNI: US JAN FINAL SERVICES PMI 52.9 (FLASH: 52.8); DEC 56.8

MNI BRIEF: U.S. Wage Growth Stagnating At Strong Levels - ADP

MNI NBP WATCH: Rates Held At 5.75%, Trump Risk Highlighted

MNI China Daily Summary: Wednesday, February 5

MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Wednesday

EZ/UK Bond Supply Calendar: Spain, France Auction; Finland ORI

US EIA: CRUDE OIL STOCKS EX SPR +8.66M TO 423.8M JAN 31 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BRAZIL: Finance Minister Haddad To Present Govt Priorities To Congress

BRAZIL
BulletEM BulletEmerging Market News
  • With President Lula speaking today about efforts to lower the cost of living, Minister of Agrarian Development Paulo Teixeira has said that the government will request BRL 1bn ($172mn) within the 2025 Budget Law to make a stock of mainly rice, beans and wheat. Teixeira said that it is necessary to carefully reinforce reserves against cyclical increases in some foods.
  • Meanwhile, Finance Minister Haddad will deliver 25 measures to Congress from 1500GMT(1000ET) that he considers to be priorities. These are expected to include regulation of big tech and military pension reform, as well as the limitation of super salaries. It follows remarks from Treasury Secretary Ceron that the government is betting on a contractionary fiscal policy to re-anchor inflation expectations as soon as possible.
    • Against this backdrop, DI swap rates are underperforming, with yields up by around 15bp in the belly and long-end. Meanwhile, USDBRL is up by ~0.6%. Initial resistance is at 5.9469, the 50-day EMA, while on the downside, sights remain on 5.7231, the Nov 13 ‘24 low.
    • Today’s data were mixed, with Dec IP well above expectations, but Jan PMI figures soft. Ahead, Jan trade data are due Friday, followed by key IPCA inflation figures on Feb 11.
198 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • With President Lula speaking today about efforts to lower the cost of living, Minister of Agrarian Development Paulo Teixeira has said that the government will request BRL 1bn ($172mn) within the 2025 Budget Law to make a stock of mainly rice, beans and wheat. Teixeira said that it is necessary to carefully reinforce reserves against cyclical increases in some foods.
  • Meanwhile, Finance Minister Haddad will deliver 25 measures to Congress from 1500GMT(1000ET) that he considers to be priorities. These are expected to include regulation of big tech and military pension reform, as well as the limitation of super salaries. It follows remarks from Treasury Secretary Ceron that the government is betting on a contractionary fiscal policy to re-anchor inflation expectations as soon as possible.
    • Against this backdrop, DI swap rates are underperforming, with yields up by around 15bp in the belly and long-end. Meanwhile, USDBRL is up by ~0.6%. Initial resistance is at 5.9469, the 50-day EMA, while on the downside, sights remain on 5.7231, the Nov 13 ‘24 low.
    • Today’s data were mixed, with Dec IP well above expectations, but Jan PMI figures soft. Ahead, Jan trade data are due Friday, followed by key IPCA inflation figures on Feb 11.