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Local Swap Rates Under Severe Pressure

BRAZIL

Brazil DI swap rates under severe pressure on the open. The short end of the curve is between 15-25 bps higher with the belly and longer end shifting between 28-30 bps higher. Levels not seen since early December 2020 in 10-yr swap rates, nearly 130 basis points higher on the year so far.


Brazil DI Swaps:

  • 2-yr +21.5 bps at 5.4%
  • 5-yr +28 bps at 7.08%
  • 10-yr +29 bps at 8.41%

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