Trade thin as investors play it safe

Niche currency issues have been thin on the ground this week with the quiet broken only by the World Bank, which has issued Brl100m of three year paper at 12.25%. JP Morgan was sole bookrunner. The real continues to rally, albeit with high inflation still a concern. At the monetary policy meeting scheduled for Wednesday, rates are expected to be hiked 50bp, with an outlying chance of 75bp hike. Read EuroWeek on Friday for more.