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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.
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Free AccessS&P Outlook Upgrade Provides Additional BRL Tailwind
- Late Wednesday, credit rating agency S&P Global changed the outlook on Brazil’s BB- rating to positive from stable on Wednesday. This marked the first positive move in the country’s credit rating since 2019, which the agency said comes amid signs of “greater certainty about stable fiscal and monetary policies” that can support Brazil’s growth prospects going forward.
- USDBRL continued on its downward trajectory yesterday, with the S&P headlines providing an extra boost for the real. USDBRL closed at 4.8110, the lowest close since June 2022. Price action comes amid multiple bullish bets being made on the nation, as highlighted by this piece: {NSN RW910IT0G1KW <GO>}
- Services sector volume probably rose by 4.5% y/y in April, according to economists surveyed by Bloomberg, after a 6.3% increase in the previous month. National statistics agency IBGE releases report at 1300BST/0800ET.
- Treasury auctions fixed-rate LTN local notes due 2023, 2025 and 2026; fixed-rate NTN-F local notes due 2029 and 2033.
To read the full story
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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.