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Local Swaps Rates Shift Higher

BRAZIL

Brazil DI Swaps: Despite yesterday's relief rally, the DI curve has come under pressure again. Swap rates have retraced all of yesterday's moves and extended higher by between 11-18 bps:

  • 2-yr +11 bps at 5.3%
  • 5-yr +18 bps at 7.35%
  • 10-yr +14 bps at 8.37%

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