Brazilian rates rise as post-election rally stalls; Hormuz attacks, Europe fiscal fears weigh

Brazilian interest-rate futures opened higher on Wednesday, halting a two-day rally driven by Sunday's election results, as the currency weakened and external pressures mounted. New attacks on vessels in the Strait of Hormuz and European fiscal concerns are fueling global risk aversion, while markets await FOMC minutes. The domestic fixed-income market is struggling to extend gains amid mixed signals.