Brazil’s sovereign risk declined to the lowest level since September amid signs investor sentiment is slowly improving and as the government moves closer to a vote in Congress that will help it boost revenue. The real advanced.
The cost of insuring Brazilian bonds for five years in the credit-default swaps market declined for the fourth straight day to 389 basis points, the lowest level since Sept. 17. The real advanced 0.4 percent to 3.7548 per dollar as of 11:22 a.m. in Sao Paulo, after falling as much as 0.3 percent earlier. It was still the worst performer among 31 major currencies tracked by Bloomberg, with a 30 percent decline.
Brazil Energy Insight 
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