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Local Markets Re-open, Petrobras To Announce Price Rise

  • Local markets re-open following the Corpus Christi Day holiday. With broader volatility likely to dominate market sentiment, swap rates may react to Copom’s latest decision to raise the Selic rate by 50 bps and signal a hike of equal or smaller magnitude for its next meeting.
  • After an extraordinary meeting on Thursday, Petrobras’s board authorized the company to announce an increase on gasoline and diesel prices on Friday, O Globo newspaper reported. President Jair Bolsonaro said a rise in fuel prices at this moment would be politically motivated.
    • “We hope that Petrobras doesn’t increase diesel and gasoline prices” while govt negotiates with Congress on changes to fuel taxes: Bolsonaro (BBG)

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