Investors react to Copom minutes. Future interest is on the radar

The national market will focus on issuing central bank minutes to recalibrate future interest rates. Since the announcement of maintaining the base interest rate at the current level, investors have adjusted their expectations according to the more restrictive scenario presented by the Copom (Monetary Policy Committee) statement.

The central bank delivered a tone that the market considered tougher and indicated that in order to reach the inflation target, interest rates must be kept high for longer than expected. From there to here, it is The Curve has priced rates higher for maturities of up to one year and then decline thereafter. The move on the short end was in response to earlier expectations that, under pressure from the government, BC would signal the start of Selic cuts in upcoming meetings.

In addition to the minutes (which are due for release at 8:00 this morning), investors are also following Pay attention to the progress of discussions on the fiscal framework in government and To equip the deputies (provisional measures) in the National Congress.

Abroad, the banking sector continues to recover in global stock exchanges while reducing fears of an extension of the crisis. So, Forward rates in the United States and Europe rose again, With pricing over 50% chance of upside of 0.25 pips in the North American rate and over 80% in the European rate.

in the field of commodities Iron ore is rising again This Tuesday and it was trading at $121.70/ton (+2.10%) in Singapore. Crude Oil, which closed up over 4% yesterday, is also trading with gains today.. At 8 am, the price of a barrel of Brent crude oil was up 0.31%, quoted at $78.36,