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New Daily Covid Case Record Over 100,000

BRAZIL
  • Brazil reported a new daily record number of cases at 100,158 overnight, with the daily death toll rising to 2,777.
  • Brazil's central bank defended plans to remove only part of its stimulus, pointing to heightened uncertainties on growth even as inflation surges above targe. As the Governor explained "we are not behind the curve", swap rates shifted lower by between 10-15 bps.
  • Separately, both the Senate and the Lower House approved late Thursday the 2021 budget bill, which will now be sent to President Bolsonaro to be sanctioned.
    • Bill's rapporteur Marcio Bittar made adjustments to the bill sent by the Executive branch and set as fiscal target a deficit of 247.1b reais for the central government
    • Spending cap set at 1.486t reais.

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