Concerns about Brazil push CDS higher

06/30/2013 | Bloomberg

Five-year credit default swaps on Brazilian debt rose 49 basis points during the second quarter, the biggest increase since 2011, amid unrest, concern that President Dilma Rousseff is slowing progress and the possibility of a credit rating downgrade. "The street protests are really exposing a lot, the many levels of weaknesses that the administration put into the economy," Standard Chartered economist Italo Lombardi said. "If they don't take actions and we continue to see low growth, then we could see a downgrade."

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