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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.
BRAZIL
- Brazil's stock market index reached its lowest level in a year on Wednesday as commodities weakened and technology stocks declined; there is potential for metals to further weigh on the market again as iron ore continues its downtrend.
- Swap rates continue their volatile swings with renewed pressure on the currency prompting a shift higher for DI swap rates in the past few sessions.
- Treasury will offer fixed bonds maturing in 2022, 2023, 2025, 2027 and 2031; size and price of the auction may be a minor driver in a session free of clear catalysts.
- With some analysts predicting a recession next year, Economy Minister Paulo Guedes said yesterday that he disagrees with these bank forecasts for Brazil's GDP.
- However, Guedes warned that he would become more concerned over growth if congress fails to pass the spending cap adjustment bill along with limiting the court ordered payments.
- Senate will start discussing the bill next Monday according to Agencia Senado; text was already approved by the Lower House and now needs to clear the Senate in two separate votes without any major change to its content. (BBG)
- A very thin local agenda keeps the focus domestically on mid-month inflation data due next Thursday.
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.
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