Ibovespa is down 1.09% on Friday, mirroring Powell, but it is up for the week.  The dollar is declining against the riyal against the world

Ibovespa is down 1.09% on Friday, mirroring Powell, but it is up for the week. The dollar is declining against the riyal against the world

The Ibovespa index closed 1.09% lower on Friday (26th), at 112,298 points. The main index of the Brazilian stock market followed what was seen in the United States, but managed to close the week with a gain of 0.73%.

In New York, the Dow, S&P 500 and Nasdaq fell 3.03%, 3.37% and 3.94%, respectively. You are Treasury yields Ten years advanced 1.3 basis points to 3.037% and two years 3.391%, up 1.7 points.

“Today’s markets are down, especially abroad, with Jackson Hole and Jerome Powell’s lines [diretor do Federal Reserve] Coming stronger than expected. Our macro team was expecting it would have more questionable, more distracted rhetoric, without giving many indications, comments Pedro Serra, Head of Research at Ativa Investimentos.

Speaking at the Federal Reserve’s annual event, the director of the monetary institution of the United States, the world’s largest economy, highlighted the focus on lowering inflation, with tight monetary policy for some time with a possible period of sub-trend growth.

“It turned out that he gave a more aggressive speech. He said what had to be said, but the last behavior was not. US inflation calls for it, for more rigidity on the part of the monetary authority, otherwise it will lose another inflation problem, which is a constant”, continues Serra. ‘Many in the market were surprised.’

Fernando Bresciani adds that in addition to Jackson Hole, the global market has more reason to be on the alert – next week, Russian President Vladimir Putin will again cut gas supplies to Europe; In China, the heat wave continues to affect production, threatening energy and destroying crops.

The DXY, an indicator that measures the dollar’s strength against other currencies of developed countries, rose 0.31% to 108.81 points. Against the real, the US currency declined, however, by 0.67% this Friday, to R$5,077 in buying and R$5,078 in selling.

Central currencies depreciated against the dollar, emerging currencies were better and the real excel [teve um melhor desempenho frente] Emerging”, comments Fabio Guarda, Partner and Director of Galapagos Capital. “We started the week with treasury bonds yields It opened a lot, at the expense of Jackson Hole, causing some fluctuations in currency and interest rates around the world, but with Brazil acting as a positive.”

According to Guarda, Brazil stood out due to the macroeconomic data, even in the scenario of election-induced uncertainty. The dollar fell during the week by 1.7% against the riyal.

“In the interest, we finished the week as we started. IPCA-15 brought in a lower-than-expected contraction, which flattened the curve. Another fact is that the National Treasury held expressive and large auctions, causing some indigestion,” he explains. “DI did not close like the exchange rate, the interest rate movement of the week was in response to the two domestic events and the movement of treasury bondsbut it did not rise either, which I see as positive.”

The yield curve closed this Friday mixed. The yield on DI for 2023 rose one basis point, to 13.73%, as did the yield for 2031, which was 12.05%. In the middle of the curve, the DIs for 2025, 2027 and 2029, however, posted a decrease of 12, 6 and 2 points to 11.98%. 11.79% and 11.94%, respectively.

Among the biggest gains in Ibovespa on Friday was Alpargatas (ALPA4)’s preferred stock, also echoing the CEO’s comments yesterday, up 7.18%. This was followed by the common stocks of GPA (PCAR3) and Cielo (CIEL3), rising 3.02% and 2.25%.

Among the increases by weight, oil companies stand out, as investors are still watching for threats to cut oil production by officials of the Organization of the Petroleum Exporting Countries (OPEC). Petrobras common and preferred shares (PETR3; PETR4) were up 1.08% and 1%, respectively.

On the red side of Ibovespa were Natura common stock (NTCO3), with minus 6.73%, Usiminas Series A preferred (USIM5), with minus 6.67%, and CSN common stock (CSNA3), with minus 5.95%.

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