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Emerging MarketsEM LatAm

Investors cave on pricing as Brazil notches tight dual tranche

Brazil, happiness, world cup 2014, good old days, glasses, optimism, LatAm, 575

Brazil became the third Latin American issuer in three days to find bond buyers willing to place large orders even as pricing was pushed below their initial demands, as it raised $3.5bn of five and 10 year paper to provide arguably the starkest example yet that technicals are trumping fundamentals primary emerging market new issues.

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