Mantega’s Real ‘War’ Sparks Surge in Bond Yields: Brazil Credit
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Brazilian Finance Minister Guido Mantega’s bid to stem gains in the real is hurting him in the bond market.
The yield on Brazil’s 10 percent securities due in 2021 surged 29 basis points this week, the biggest jump in four months, after Mantega said he may raise taxes on foreigners’ fixed-income investments to limit the supply of dollars in the currency market, according to data compiled by Bloomberg.