The one-day interbank deposit futures rates (DI rates) in Brazil ended mixed Thursday. While the shorter maturities closed stable in an adjustment movement, the longer ones rose, tracking the locally traded U.S. dollar appreciation against the Brazilian real.
“The shorter DIs did not keep up with the dollar and were relatively well-behaved, even though they made maximums throughout the session. The perception is that the dollar’s rise is much more technical, an adjustment, than a perception of improvement in the assets,” said H.Commcor operator Cleber Alessie.
Alessie stressed that longer maturities have risen in line with the U.S. currency.
“It was a day of profit-taking,” he pondered.
The January 2019 DI contract rate closed stable at 6.625%, while the January 2020 DI rate was at 7.91%, from 7.93% in the previous settlement. The January 2021 DI contract rate settled at 8.94%, from 8.93%.