Most Brazilian Stocks Advance Amid Bets for Lower Interest Rates
- Interest-rate swaps drop after dovish central bank minutes
- Gloomy retail sales, slowing inflation may make room for cuts
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Most Brazilian stocks gained as evidence piled up that the central bank may be considering cutting borrowing costs sooner than previously thought. Swap rates slumped.
The Ibovespa is up 21 percent in dollar terms this year, the best performance among 93 stock gauges. Swap rates on the contract maturing in January 2017, a gauge of expectations for interest-rate moves, declined to an almost seven-month low. The real, trading little changed for the day, is leading gains among world’s major currencies in 2016.