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Brazil risk takes sharp downturn after first round of elections

A measure of Brazil's country risk closed down sharply on Monday, the first session after the first round of the presidential elections, as fiscal risks were widely perceived to be reduced in the wake of a tighter-than-expected result in the first round of the presidential elections.

The cost of protection against default of the Brazilian sovereign debt measured by the five-year Credit Default Swaps (CDS) closed Monday at 283.37 basis points, 22.72 points below last Friday's 306.09 points.

Monday was marked by the great mood in local financial markets after the better . . .

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