Brazilian future rates fall as global fixed-income stress eases

Brazilian interest rate futures opened lower, retracing much of the risk premium added to the term curve the prior day, in line with a global relief rally in fixed-income markets. Investors now focus on Brazilian and US labor data, Fed speeches, election outlook, and an NTN-B auction. The move suggests a partial reversal of the previous day's stress, but sustainability depends on upcoming data and policy signals.