BRAZIL: DI Rates Close Lower Friday Tracking USD

By | July 28, 2018

The one-day interbank deposit futures rates (DI rates) in Brazil ended lower Friday, tracking the locally traded U.S. dollar.

While the U.S. economy grew less than anticipated by the market in the second quarter, regardless of having tape-recorded strong efficiency, in domestic politics, Geraldo Alckmin’s enhancement in an election poll also boosted the domestic market.

Quantitas’ set income analyst Matheus Gallina pointed out that the longest end of the curve was the one that lost strength throughout the session, “falling less” in the 2nd part of business compared with the early morning relocation.

In addition to U.S. GDP, Gallina added that the policy left the mood of the marketplace more favorable after XP Investimentos-Ipespe’s voting objective study indicated the development of pre-candidate Geraldo Alckmin (PSDB).

The much shorter maturities are revealing little swing, being accommodated over the previous closings.

About Selic rate, the economic expert at Renascen?a Corretora, Cesar Garritano, said that the rate is expected to stay unchanged at 6.50% annually.

The January 2019 DI contract rate closed at 6.62%, from 6.625% in the previous settlement, while the January 2020 DI rate was at 7.91%, from 7.92%. The January 2021 DI contract rate settled at 8.90%, from 8.94%.

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