Brazil Central Bank Aggressively Raises Rates For Tenth Consecutive Time, Another 100bp to 12.75%, Signals More To Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.0% to 12.75%. It was the tenth consecutive interest rate hike since 2021 when the bank began its current tightening cycle early last year, the Selic was at a record low 2%. The lending rate is now at its highest level since 2017. The bank’s monetary policy committee (Copom) said it expects to raise the Selic by a smaller magnitude. Inflation is the issue of concern. The institution’s … Continue reading “Brazil Central Bank Aggressively Raises Rates For Tenth Consecutive Time, Another 100bp to 12.75%, Signals More To Come”

Corn Prices Remain Underpinned by U.S. Planting Delays and Ukraine Grain Unavailable for Export

Grain traders squared positions ahead of the Easter holiday weekend on Thursday. Corn prices fared the best up nearly 1% on a round of technical buying. Soybean contracts trended slightly higher while wheat prices fell significantly, with most contracts down 1.5% to 2.5% on profit-taking. Corn prices remain underpinned possible U.S. planting delays and Ukraine grain unavailable for export. May corn futures added 7.5 cents to $7.91, with July futures up 6.5 cents to $7.8450. Corn export shipments were 1% … Continue reading “Corn Prices Remain Underpinned by U.S. Planting Delays and Ukraine Grain Unavailable for Export”

Brazil Central Bank Continues to Raise Rates Aggressively, Another 100bp to 11.75%, Signals More To Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.0% to 1`1.75%. It was the ninth consecutive interest rate hike since 2021 since the bank began its current tightening cycle early last year, when the Selic was at a record low 2%. The lending rate is now at its highest level since 2017. The bank’s monetary policy committee (Copom) said it expects to raise the Selic by the same amount at its next meeting. Inflation is the … Continue reading “Brazil Central Bank Continues to Raise Rates Aggressively, Another 100bp to 11.75%, Signals More To Come”

Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 10.75% in February

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 10.75%. It was the eighth consecutive interest rate hike since 2021 and policymakers Inflation expectations for 2022 and 2023 collected by the Focus survey are around 5.4%, and 3.5%.  Last meeting the Brazilian Central Bank raised 150bp to 9.25% saying the underlying inflation is above the range compatible with meeting the inflation target. Highlights Global outlook environment remains less favorable.  More persistent inflation increases the chances … Continue reading “Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 10.75% in February”

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%

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.

ExxonMobil $XOM Increases Brazil Oil Acerage With Statoil Stake

ExxonMobil has expanded it’s offshore acerage with a deal to acquire half of Statoil’s 66% interest in the BM-S-8 block of offshore Brazil , Criterion Research reported. $XOM will pay an upfront cash payment of $800 million with contingent payments of up to $500 million.