Key Facts
The Selic wager has shifted from the August cut to the next Copom meeting scheduled for 15-16 September, with the benchmark rate now at 14.00% per year after four consecutive quarter-point reductions.
Today’s domestic data is the morning’s hard catalyst with the IPC-Fipe São Paulo inflation reading due at 08:00 BRT and two Industrial Production prints due at 12:00 BRT, both likely to steer rate expectations at the open.
B3 executed a major legal victory overnight as the Carf tax appeals court cancelled roughly R$2.2 billion in federal tax assessments related to its 2016 and 2025 sales of CME Group shares.
The Ibovespa enters today with a tailwind of ten straight up sessions but it remains about 9.5% below its 52-week high, leaving room for domestic momentum to extend if data cooperates.
