The two events that overthrew Wall Street and caused the Ibovespa's fall of 0.5%

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SÃO PAULO – In a very volatile session, the Ibovespa remained in the negative field on Thursday afternoon (20) under pressure from the outside scenario, after reaching the late rising edge in the morning, Wall Street indexes are worried about the FOMC's decision. The risk of a closure of the US government has been put on the market.

The benchmark stock market index closed down 0.47% to 85,269 points, the financial volume amounting to R $ 16,160 billion. Meanwhile, the commercial dollar fell 0.53% to R $ 3.88521 on the sale, easing losses after reaching R $ 3.8358 at the bottom of the day.

The Brazilian market recorded larger gains around 9:30 with the change already made in the future Ibovespa, following the movement of future indices in Wall. Street, which went from low to light after yesterday's debacle with Fomc's decision.

However, as soon as the US stock market opened, the indices fell sharply, pulling the Ibovespa which turned negative. However, this scenario did not last long and the Brazilian stock market resumed its growth, dissipating the tension on Wall Street.

US indexes began to fall more sharply – pulling Ibovespa – with the return of fear of a government shutdown ("closure"). House Speaker Paul Ryan said Donald Trump will not sign the budget, which suspends the government's work starting Friday. The president who has to budget the construction of the wall on the border with Mexico.

The remains of the Fomc decision, which yesterday raised its fundamental interest of 0.25 percentage point for the fourth time this year. year, from 2.25% to 2.50%, as was widely expected. The US monetary authorities have also reduced their interest increase forecast in 2019 from three to two, but the markets are currently banking on the badumption that the US central bank will not increase rates of interest. interest next year, as volatility signals

Fed Chairman Jerome Powell's words did not please him, pointing out that the monetary authority was satisfied with its Fed reduction program. balance sheet and did not intend to change it. Investors see it as a path of monetary tightening, with the Fed reducing its balance sheet by making fewer purchases, such as treasury bills and mortgages.

Still in the spotlight, the BoJ decided to maintain its monetary policy in this context. but he also highlighted the risks to the economic outlook, especially trade protectionism in Washington and Beijing.

On the commodities market, oil has again plunged into fears over the global economy after recovering some of the recent declines of the day before.

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Up and down

Marco Aurélio Mello's "combo" of the previous day also touched Petrobras, making it difficult to sell his badets.

The decision must be confirmed in plenary session, at a date not yet indicated, "at the opening of the first semester of the judiciary in 2019" and that it belongs Congress, not the executive, to legislate on Petrobras' offers and contracts. "The executive was working to sell the badets" of the company at prices opposed to the law, "said the decision. Assets Cot R $ % day % % % % % % % % of the stock USIM5 PNA USIMINAS 9.25 -4.64 +2.09 248.38M SKY3 CIELO ON EDJ 9.05 -4.62 PETROBRAS PN N2 21.49 -3.42 +34.61 3.07B SCNNA3 SID NACIONALON 19659027] 8.94 -3.35 +6.68 132.24M

The highest increases among the items making up the Bovespa index are as follows:

Code Active [19659015] Cot R $ % DAY % Year ] Flight 1
CEMIG PN 13.53 +3.92 +109.32 247.18M
MRVE3 MRV ON ED 12.70 +3.25 – 8.86 72.88M
GOLL4 GOL PN N2 25.38 +3.21 +73.84 168.88M
BTOW3 B2W DIGITAL ON 39.34 [ the most traded, including the Bovespa index, were as follows:

Code Assets Cot R $ Var% Vol 1 1 ] Neg PETR4 PETROBRAS PN N2 21.49 -3.42 3.07B 1.86B 88.667 [19659103] VALE3 VALE ON 49.81 -0.40 1.28B 1.11B 40.216
ITUB4 ITAUUNANCANCOP EJ [19659098] 34.64 -0.03 947.26M 606.68M 33109
KROT3 KROTON ON 8.71 ] – 0.57

B3 ON

26.10 -0.23 353.98M ] 248.03M 30.937
BBA S3 BRASIL ON EJ 44.08 +0.64 341.36M 452.66M 20.982
PETROBRAS ON N2 [19659098] 24.16 -2.42 315.51M 341.02M 21.269 [19659] USIM5 USIMINAS PNA 9.25 – (19459008) K – A thousand | M – Millions | B – Billions) –
Thursday began with the publication of the quarterly inflation report issued by the Central Bank of

British Columbia maintained its projection of inflation for 2018 in the market scenario, indicating an IPCA of 3.7% for this year. The percentage is the same as that verified in the minutes of the last Monetary Policy Committee (Copom), which left on Tuesday (18).

For 2019, the market scenario indicates that the IPCA will be at 3.9%, also equal to the percentage posted in the minutes. In the September ITR, the projection was 4.0%. The projection for the 2020 IPCA, according to the market scenario, is 3.6% – same level as expected in September. British Columbia predicts inflation of 3.7% versus 3.8% in the previous ITRs for the year 2021.

If you look at the paper, you will see a drop in the rates of the major futures contracts. The interest rate maturing in January 2021 decreased by 8 basis points to 7.39%, while the maturity in January 2023 dropped 13 basis points to 8.62%.

Already at the previous day's meeting, the CMN (National Monetary Council) authorized the use of LIG, LF in repo transactions. The goal is to increase liquidity and improve the price formation process of these securities, according to BC.

Toffoli overthrows the decision of Marco Aurelio

Yesterday evening, the President of the Supreme Court of Brazil (STF) Federal, Minister Dias Toffoli, suspended the decision of the Minister Marco Aurelio Mello, which authorized the release of all prisoners sentenced to the second instance of justice, at the request of Attorney General Raquel Dodge

. the decision, the preliminary injunction (provisional decision) of Toffoli is valid until April 10, 2019, at which time the plenary of the STF will re-examine the question of the validity of the imprisonment after the closure of the second instance appeals.

President President-elect Jair Bolsonaro praised Toffoli's decision on Twitter. The decision of the Minister Marco Aurelio Mello could benefit thousands of prisoners, including former President Luiz Inacio Lula da Silva, imprisoned since April in Curitiba.

On the other hand, another decision of Marco Aurelio, The choice of the president of the Senate was maintained, reducing the favoritism of Renan Calheiros, while in the House, a measure favorable to the reelection of Rodrigo Maia , emphasizes Valor. Although the decision rests with the Senate, Maia's allies understand that it extends throughout the legislature.

Also in the legal field, the Attorney General of the Republic, Raquel Dodge, denounced last night President Michel Temer, among others. five were investigated by the Supreme for crimes of active and pbadive bribery and money laundering.

Besides Temer, the businessmen Antonio Celso Grecco and Ricardo Conrado Mesquita, badociates of Rodrimar, were denounced. Carlos Alberto Costa and João Batista Filho, as well as the former federal deputy Rodrigo Rocha Loures

Approval of the 2019 budget

The National Congress yesterday approved the draft budget law for 2019, which provides for revenue and total expenditure of R3,381 billion for the coming year. The text follows now for the presidential sanction. This will be the first budget Bolsonaro.

Approved by a joint session of senators and deputies, the project provides that $ 758.7 billion will be spent on refinancing the public debt. Of the remaining amount, 2.5 billion rand should be allocated to the public finance and social security budgets, and 119.6 billion rand to investment.

The forecast of the budgetary objective, a deficit of 139 billion rand, and the value of the rapporteur have retained the elements of the minimum wage, readjusted to R $ 1,006, according to the text sent by the government. Government Economic Team

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(with Bloomberg and Agência Brazil)

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