The rates outlook is positive and the real is rebounding, but the (inquiry) still makes the market uncomfortable. The market is just advancing cautiously.
Emerging market stocks were hit hard today, along with their bonds. Lingering fears over higher U.S. interest rates triggered profit-taking again, one day after we saw some good rallies.
Due to these two factors, the market is in waiting mode.
The (stock) market nervously followed New York again, slightly affected by the delay in ruling on the FGTS workers' fund. But we weathered New York fall quite well.
The moment investors confirmed the size of the rate hike, they jumped to buy stocks. Needless to say, the U.S. stock market rally is also helping sentiment.
Stocks in New York were exploding. And the local market got a boost in the electrical energy sector.