August 8, 2022
Ibovespa futures drop, DIs advance after IPCA;  Treasury yields fall and stock markets rise overseas

Ibovespa futures are low, on a day of low liquidity due to a holiday in the US

Ibovespa futures fell on Monday (17), down 0.40% at 9:13 am (Brazil time), to 107,530 points. The index operates away from major international exchanges on a day of low liquidity, with US exchanges closed for the Martin Luther King holiday.

In Asia and Europe, indicators had a slight positive trend, led by the release of data from China, with the Asian giant’s GDP growing by 1.6% in the last quarter, compared to a consensus of 1.1%, and 8.1% in 2021.

“Economic data from China was mixed: industrial production increased, but retail sales missed expectations,” XP Investimentos comments in its report. Morning call. In addition, there are those who also point out that GDP, despite its advance, brought a trend of slowdown.

With uncertainty, the news that the People’s Bank of China (PBoC, the country’s central bank) cut interest rates on medium-term loans from 2.95% to 2.85% and that it injected $31 billion into its financial system, in a bid to avoid an economic slowdown. Slightly helped to enhance the indicators.

Crude, despite the stimulus to the Chinese economy, closed 1.84% lower, heading to $125.65, in Qingdao, and 2.35%, $111.06, in Dalian. Downturn “The market is reacting poorly to more uncertainties arising from the country’s real estate market,” XP explains. The attempt to control pollution from the Winter Olympics also raises doubts about steel production in the Asian giant.

Japan’s Nikkei closed 0.74% higher and the Shanghai index in mainland China rose 0.58%. HSI from Hong Kong and Kospi from South Korea slipped and closed down 0.68% and 1.09%, respectively.

In Europe, the German DAX is at around 9 am, up 0.34%. The UK’s FTSE is up 0.61% while the French CAC 40 is up 0.73%. The Eurozone STOXX 600 Index rose 0.52%.

Investors in the Old Continent are still monitoring the pressure of the resignation of British Prime Minister Boris Johnson, due to his presence at the parties that were held in their most tense period. full closure Against covid-19, in May 2020. Tensions between Ukraine and Russia also remain on the radar.

In Brazil, IBC-Br is in line with consensus

not the local market, Investors mirror the publication of the IBC-Br by the central bank. Considered “ex-GDP,” the index rose 0.69% in November, compared to the consensus of 0.65%.

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In addition, the release of the Focus Bulletin was discussed, although some changes were made compared to last week: the IPCA forecast for 2022 moved from 5.03% to 5.09 and for GDP from 0.28% to 0.29%.

Finally, there is also the impact of the IGP-10, published by Fundação Getúlio Vargas (FGV), which increased by 1.79% in January, compared to the consensus of 1.60%.

Hence, the yield curve rises in the form of mass. Yields on DI contracts due in January 2023 rose three basis points to 11.98%. The amount due in January 2025 rose four points to 11.30%. In January 2029 it advanced five basis points to 11.30%.

The trade dollar rose 0.12% to R$5.519 in purchases and R$5.520 in sales.

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