Free Trial

Lula May Call Meeting Today Amidst Tensions With Congress On Fiscal

BRAZIL
  • Globo have reported that President Lula has put members of the government’s political team on alert for a possible emergency meeting today amidst tensions with congress and lower house Speaker Lira over fiscal legislation. Finance Minister Haddad has also reportedly cut short his visit to Washington for the IMF spring meetings, and may join the meeting.
  • Brazilian swap rates are currently trading lower again today, especially in the 2-4-year segment where yields are c.12bp lower.
  • The real is also outperforming, with USDBRL around 0.7% lower at 5.213 at the time of writing. The bullish theme in USDBRL remains intact, with attention on 5.3330 next. Support to watch lies at 5.1029, the 20-day EMA.

To read the full story

Close

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.