FX.co ★ Brazilian Stocks Hold Losses

On Thursday, the Ibovespa index remained steady at 137,875, maintaining the 1.6% decline observed on the previous day. This stability comes as investors eagerly anticipate the release of the year's first Bimonthly Report on the Assessment of Primary Revenues and Expenditures. Additionally, the market is keenly awaiting comments from Finance Minister Fernando Haddad and Planning Minister Simone Tebet during an upcoming press conference, where they are expected to discuss fiscal data. On a global scale, both equity and bond markets are experiencing pressure after the US House of Representatives approved President Donald Trump’s tax-and-spending scheme. This package, which includes tax cuts alongside increased government expenditures, has sparked concerns about the rising US debt burden. Consequently, it has solidified expectations that the Federal Reserve might maintain elevated interest rates for an extended period. Furthermore, market caution is heightened by Moody’s recent downgrade of the US credit rating from its top-tier "Aaa" to "Aa1."