December 8, 2022
Ibovespa Futuro opened sharply lower with a risk aversion scenario;  interest rose

Ibovespa Futuro opened sharply lower with a risk aversion scenario; interest rose

Ibovespa Futuro takes off from New York and runs lower in first trading this Thursday (10), After the spot index fell more than 2% the previous day, It is led by the financial sector, after disappointing results from Bradesco, as well as losses in global markets. Today, inflation figures are prominent in both Brazil and the United States.

Earlier, the National Broad Consumer Price Index (IPCA) rose 0.59% in October compared to September, above market expectations, which was 0.48% inflation. The data cut short, as expected, a three-month streak of downturn. As a result, the 12-month cumulative inflation rate was 6.47%.

At 9:36 AM (Brazilian time), the contract for December was down 2.18% at 112.320 points.

On Wall Street, futures indexes are rising, as investors await the release of the Consumer Price Index (CPI), for October. The Refinitiv consensus indicates a 0.7% monthly increase and an 8% annual change.

Investors are also looking forward to the results of the US midterm elections. Control of the House and Senate remained open on Thursday as states across the country counted votes.

This morning, Dow futures are up 0.24%, S&P futures are up 0.41%, and Nasdaq futures are up 0.51%.

dollar

In contrast, the trading dollar worked up 2.31%, quoted at 5.303 Brazilian reals in buying and 5.304 Brazilian reals in selling, continuing the strong rise the previous day, with caution from the Presidential Election Commission for the transition and elections in the United States. Dollar futures for December rose 2.75% to R$5.349.

In relation to the yield curve, futures contracts rise sharply. DIF23 (January to 2023) rose 0.01 points per inch, up 13.68%; DIF25, +0.55 pages, 12.61%; DIF27, +0.64 pages, 12.60%; and DIF29, +0.69, at 12.76%.

Returning to the domestic scene, President-elect Lula highlighted in a public address the need to increase spending to restart economic growth and create jobs.

In the opinion of analysts at XP Investimentos, given that Brazil has relatively high debt, a very expansionary fiscal policy going forward could raise the risk premium for Brazilian assets and tend to keep inflation under pressure, which could hurt the space for cuts. next year.

abroad

Most European markets are in the red, as investors in the region digest the partial results of the US midterm elections.

Investors in the Old Continent are also waiting for new US inflation data.

Asia

Asian markets closed lower as investors digested the results of the US midterm elections.

Also on investors’ radar, there are fears that the outbreak of the novel coronavirus in China could lead to new restrictive measures, at a time when there has been discussion about mitigation measures.

Iron ore prices are falling, cutting a series of seven highs, reflecting new restrictions on the Asian giant.

The manufacturing hub of Guangzhou, a city of 19 million, reported more than 2,000 new cases on Wednesday, the third day above that level in the city’s worst outbreak yet.

Millions of residents were told to get tested for Covid yesterday, and one area of ​​the city was locked down as local cases across China reached the highest level since April 30.

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