*BRAZIL:FORMER MINISTER GEDDEL VIEIRA LIMA BECOMES DEFENDANT IN NEW LAWSUIT

Trading 10 juil 2018 Commentaire »

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*BRAZIL: GEDDEL VIEIRA LIMA IS ACCUSED OF HARRASSING FORMER MINISTER CALERO

Trading 10 juil 2018 Commentaire »

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*BRAZIL: DI RATES CLOSE LOWER TRACKING USD, FOREIGN MARKETS

Trading 10 juil 2018 Commentaire »

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*BRAZIL: DI TRADERS FOCUSED ON ADJUSTMENT TO POSITIVE FOREIGN LANDSCAPE

Trading 10 juil 2018 Commentaire »

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BRAZIL: DI Rates Close Lower Tracking USD, Foreign Markets

Trading 10 juil 2018 Commentaire »

The one-day interbank deposit futures rates (DI rates) in Brazil ended lower Tuesday, tracking the locally traded U.S. dollar, which fell by more than 1% against the Brazilian real in a post-holiday adjustment. The forward curve ignored the country's political news, amid the weakest economic agenda of the day.

With this move, the forward curve began to price the odds of maintenance of the Selic rates at the Central Bank's Monetary Policy Committee (Copom) meeting that will take place later this month, from the odds of a 0.25 percentage points (pp) increase that prevailed until the end of last week.

"The Copom may change the tone at the next meeting, but it should not touch the Selic," said a trader, adding that the language of the monetary authority should depend on upcoming activity data. For Bradesco, this week's release of retail sales results and service volume in May should allow a more complete assessment of the impact of the trucker's strike on the domestic economy.

The January 2019 DI contract rate closed at 6.795%, from 6.82% in the previous settlement, while the January 2020 DI rate settled at 8.12%, from 8.25%. The January 2021 DI contract rate ended at 9.09%, from 9.25%.


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Treasuries Show Modest Move To The Downside

Trading 10 juil 2018 Commentaire »

Treasuries moved modestly lower over the course of the trading session on Tuesday, extending the downward move seen in the previous session.

Bond prices fluctuated as the trading progressed before closing in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.3 basis points to 2.873 percent.

The modestly lower close by treasuries came after the Treasury Department's auction of $33 billion worth of three-year notes attracted below average demand.

The three-year note auction drew a high yield of 2.685 percent and a bid-to-cover ratio of 2.51, while the ten previous three-year note auctions had an average bid-to-cover ratio of 2.90.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Continued strength on Wall Street may also have weighed on treasuries, as optimism about the upcoming earnings season overshadowed recent trade concerns.

Snack food and beverage giant PepsiCo (PEP) released its second quarter results before the start of trading, reporting earnings that exceeded analyst estimates.

Financial giants Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) are due to report their quarterly results before the start of trading on Friday.

Following a couple of quiet days on the U.S. economic front, trading on Wednesday may be impacted by reaction to a report on producer prices in the month of June.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $22 billion worth of ten-year notes.


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*BRAZIL: DI RATES FALL TRACKING USD, FOREIGN MARKETS

Trading 10 juil 2018 Commentaire »

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*BRAZIL: INVESTORS ASSESS POLITICAL UNCERTANTIES

Trading 10 juil 2018 Commentaire »

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PETROBRAS: Company, Total Signs Memorandum For Business With Solar Power

Trading 10 juil 2018 Commentaire »

Brazil's Petrobras and France's Total and Total Eren signed a memorandum of understanding to analyze business development in the onshore solar and wind power sectors in Brazil.

According to a statement by the Brazilian state-owned oil company, the memorandum is not binding and only indicates that companies intend to work together to develop projects in these segments.


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* BRAZIL: 2018 HARVEST EXPECTED TO FALL 5.3% OVER 2017, TO 227.9 MILLION TONS

Trading 10 juil 2018 Commentaire »

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