Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 9.25% in December

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 9.25%. It was the seventh consecutive interest rate hike in 2021 and policymakers see another interest rate increase by the same margin at the next meeting.  Last meeting the Brazilian Central Bank raised 50bp to 7.75% saying the underlying inflation is above the range compatible with meeting the inflation target. Highlights Copom increases the Selic rate to 9.25% p.a. The committee said that accordingly to the … Continue reading “Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 9.25% in December”

Corn Avoids Commodity Selloff After Strong USDA Export Data

Commodities sold off across the board after the new Covid variant Omicron caused fear and uncertainty in Friday’s shortened session. Corn prices were in the red most of the day but turned green after better-than-expected export data from USDA took hold. Corn’s late-session rally helped prices jump more than 1% higher by the close, December futures added 6.5 cents to $5.8625, with March futures up 6.25 cents to $5.9175. Preliminary volume estimates were for 296,804 contracts, falling well below Wednesday’s … Continue reading “Corn Avoids Commodity Selloff After Strong USDA Export Data”

Brazilian Engineering Software Provider CI&T IPO Debuts on NYSE

Brazilian based CI&T, a global digital native specialist, and end-to-end digital transformation partner providing strategy, design and software engineering services to some of the world’s leading brands went public as $CINT on the NYSE closing up 20%

Brazil Central Bank Raise Rates by 150bp to 7.75% To Rein In Inflation

Banco Central do Brasil​ aggressively hiked its benchmark interest rate by 1.5% to 7.75% (consensus was for a 1% hike to 7.25%) Last meeting the Brazilian Central Bank raised 100bp to 6.25% saying the underlying inflation is above the range compatible with meeting the inflation target.

Brazil Central Bank Raise Rates by 100bp to 6.25% To Rein In Inflation

Banco Central do Brasil​ hiked its benchmark interest rate by 100bp to 6.25% widening the Brazilian Real spread to the US Dollar. The Brazilian central bank said the underlying inflation is above the range compatible with meeting the inflation target. Earlier in the day the US Federal Reserve left rates unchanged.

The Fragile Five Emerging Markets Contagion Risk

The emerging markets known as the ‘fragile five’; Brazil, India, Indonesia, South Africa and Turkey have shown that contagion is unavoidable when you are a high interest-rate economy with a trade deficit dependant on foreign capital to balance its books. 

Norsk Hydro Sees Brazil Alumina Refinery Restart Later In Mid 2019

Norway’s aluminium producer Norsk Hydro reported higher than expected earnings on Tuesday boosted by higher aluminium and alumina prices. $NHYDY results came after both Alcoa and Aluminum Corp of China warned on tariffs and trade. Brazil still weighs.