RIO DE JANEIRO, BRAZIL - Brazil's 5-year CDS (Credit Default Swaps) hit 211.200 basis points, against 210.710 the day before, reaching its highest level since April 14 (214.27 basis points).
The CDS is a derivative that works as a kind of insurance against a debt default - be it sovereign or corporate - and is priced according to the base risk of Treasuries, the U.S. government bonds, considered to be the world's safest asset.
Dollar futures are close to R$5.70, interest rate futures contracts negotiated at the B3 jumped up to 90 basis points . . .
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