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Local Markets Closed For Carnival Holiday

BRAZIL
  • Carnival holiday and Ash Wednesday make for a very short trading week in Brazil. Focus will be on mid-month inflation data, due Friday. Markets ended last week on a more optimistic note as the debate around adjusting the inflation target has died down for now.
  • Analysts note that attention will be on President Lula’s announcement of the replacement of Bruno Serra on BCB’s board. Worth noting that local assets are likely pricing in a PT-linked appointee.

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