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May IPCA Inflation Data Due At Top of Hour

BRAZIL
  • National statistics agency IBGE will release the May inflation data set at 1300BST/0800ET. On a yearly basis, the print is expected to have dipped back below 12%:
    • May IBGE Inflation IPCA MoM, est. 0.60%, prior 1.06%
    • May IBGE Inflation IPCA YoY, est. 11.88%, prior 12.13%
  • Separately, today:
    • Treasury auctions fixed-rate LTN local notes due 2023, 2024 and 2025; fixed-rate NTN-F local notes due 2029 and 2033.
    • Pricing of Eletrobras’s offering.
    • Economy Minister Paulo Guedes is in Brasilia and will be attending a public event alongside President Jair Bolsonaro.
  • Petrobras said it is not the only fuel supplier in Brazil and that, without competitive prices, there is no incentive for the various agents in the sector to properly serve the Brazilian market. (BBG)

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