Key Facts
Ibovespa closed at 177,866.37 points, up 2.97% on the day and its best level since May 14, finishing right at the session high.
The real barely moved, with USD/BRL easing 0.04% to 5.1075 even as equities roared, the clearest sign this was a rates story rather than a currency one.
Banks did the heavy lifting, with Bradesco up 4.8%, BTG Pactual up 5.5% and Itaú up 4.0%, all among the day’s most-traded names.
June’s IPCA inflation print rose just 0.16%, far below the 0.31% Reuters consensus and May’s 0.58%, pulling the 12-month rate down to 4.64%.
