Brazilian DI rates for maturities from January 2028 closed lower on Monday, mirroring a broad retreat in global risk assets.
The decline in local short-term funding costs followed a synchronized drop in US Treasury yields and Brent crude prices, reflecting a shift in market sentiment toward lower near-term inflation pressures.
The move in Brazilian rates underscores the persistent linkage between local funding costs and global macro drivers.
As US Treasury yields pulled back, investors repriced the inflation outlook, buoyed by the plunge in energy prices.
Crude oil fell to its lowest level in four months, providing tangible relief to inflation expectations and supporting a risk-off environment that favored lower yields across fixed-income markets.
This repricing continues a trend observed earlier in the week, where falling oil prices drove US Treasury yields sharply lower.