Economic news bolsters debt.(economic conditions in Brazil)(Brief Article)

SAO PAULO -- Brazilian debt continued to rebound this week, with the '05 bond rising as high as 92 1/2, with the yield falling to 12.08%, following Tuesday's release by the Banco Central do Brasil (BCB) of July's fiscal accounts. Markets were pleased to see this month's 2.7 billion real primary surplus, which came in well above estimates of 2.2 billion reals although fell short of June's impressive 3.4 billion real figure.

Given the stronger than expected numbers the sovereign should easily meet its IMF prescribed target of 3.35% of GDP for 2001 - in fact on a 12-month trailing ...

Read the rest of this article with a Free Trial at HighBeam Research.