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BRAZIL: Treasury Sold $2.5 Billion in Bonds, Bolsonaro Charged

BRAZIL
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  • The Brazilian Real rallied further on Tuesday, cementing its place as the best performing currency in 2025. USDBRL has narrowed the gap substantially to 5.6340, the Nov 7 low. Below here, a cluster of lows around the 5.40 mark represent key medium-term support.
  • Brazil sold $2.5 billion in bonds due in 2035, yielding about 6.75%, to repay outstanding public debt. The treasury had not sold dollar bonds since June of last year, and has about $6.7 billion in hard-currency bonds maturing this year.
  • Brazil’s Attorney General’s Office charged former President Jair Bolsonaro on Tuesday with plotting to overturn his 2022 election loss as the country’s authorities zero in on one of President Trump’s closest allies in Latin America. Attorney General Paulo Gonet charged Bolsonaro and 33 of his right-wing allies over what police said was a plot to stop President Luiz Inácio Lula da Silva from taking office in 2023, including plans to assassinate the leftist leader. (WSJ)
  • Elsewhere, Vale discloses 4Q24 earnings after the market closes. On Jan. 28, the company informed its iron ore output, missing analysts’ estimates. Gerdau is also expected to publish results.
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  • The Brazilian Real rallied further on Tuesday, cementing its place as the best performing currency in 2025. USDBRL has narrowed the gap substantially to 5.6340, the Nov 7 low. Below here, a cluster of lows around the 5.40 mark represent key medium-term support.
  • Brazil sold $2.5 billion in bonds due in 2035, yielding about 6.75%, to repay outstanding public debt. The treasury had not sold dollar bonds since June of last year, and has about $6.7 billion in hard-currency bonds maturing this year.
  • Brazil’s Attorney General’s Office charged former President Jair Bolsonaro on Tuesday with plotting to overturn his 2022 election loss as the country’s authorities zero in on one of President Trump’s closest allies in Latin America. Attorney General Paulo Gonet charged Bolsonaro and 33 of his right-wing allies over what police said was a plot to stop President Luiz Inácio Lula da Silva from taking office in 2023, including plans to assassinate the leftist leader. (WSJ)
  • Elsewhere, Vale discloses 4Q24 earnings after the market closes. On Jan. 28, the company informed its iron ore output, missing analysts’ estimates. Gerdau is also expected to publish results.