Less than a month ago, Forbes’ Kenneth Rapoza spread the word of Brazil returning to the attentions of Wall Street and beyond, with global investors reconsidering the country as a possible destination for their investments. One of the signs of this movement is Brazil’s five-year Credit Default Swap (CDS).
The CDS works as insurance held by a country’s public debt holders (like banks) and insurers, who can cover losses in case the country defaults. Basically, it is a risk thermometer, measuring the likelihood of a country to default on public debt—the lower, the better. This week, Brazil reached 128 points, the lowest level since 2014.
At the...
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