In Brazil, the stock exchange welcomes the measures taken by the government of the new president to "get Brazil back on its feet". Following Jair Bolsonaro's inauguration, the Minister of Economy, Paulo Guedes, promised a reduction in taxes and public spending, major reforms of the pension system, and promises minimal state intervention. This led to an increase in its stock market index, the ibovespa (+3.56%) and its currency, the real (+2.45% against the dollar). Investors are confident that the new President and his Minister of Economy will be able to support the country's growth and quickly reduce the budget deficit.
 
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13th day of shutdown in the United States. It is difficult to believe that this situation will be quickly resolved. The Democrats do not want to give in to Trump's demands, who is uncompromising on the need to finance the construction of the wall. According to him, "there can be no real border security without the wall". He promises that the paralysis of some federal governments may continue for "some time" if the budget law does not contain the $5 billion he is calling for. The change of majority in Congress, which should (as mentioned yesterday) elect Democrat Nancy Pelosi as head of representatives, promises a difficult end to Donald Trump's mandate.

Particularly low bond yields. Government bond yields are at their lowest level in three months, partly due to concerns about global growth, including the Chinese economy, the slowdown in monetary tightening in the United States, the decline in equity markets and low liquidity.
 
Click on the image to enlarge it (Source: Bloomberg)