What Do Monetary Cycles Tell Us About Fixed Income in Brazil?
The Weekly Globe: in this article, we analyze the behavior of prefix-linked bond classes and a theoretical portfolio composed of NTN-Bs during recent monetary cycles to try to understand what might happen with these assets now
By Humberto Vignatti, BR Fixed Income and Currency Strategist
Despite there being no guarantees, a frequent behavior in the investment world is to evaluate the past to try to draw some conclusions about the future.
In this article, we will analyze the behavior of fixed-rate classes and a theoretical portfolio composed of NTNBs compared to the last 27 monetary cycles to try to understand what can happen with those assets now that the Selic is stable and, in our opinion, should start falling in the first half of next year.
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