Brazil Sells Record Debt on Concern Meirelles on Hold
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Brazilian President Luiz Inacio Lula da Silva is selling record amounts of debt as speculation increases that the central bank may be done raising interest rates this year.
Yields on zero-coupon bonds due in 2012 fell to the lowest ever yesterday as the government sold 6.7 billion reais ($3.8 billion) of the securities in its biggest auction of a single maturity. The yield on the bonds, known as LTNs, dropped to