There was a rumor of a terror alert that affected U.S. stocks and raised some concern in Brazilian markets as well.

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People are a bit concerned with higher Treasury yields and the possibility that U.S. interest rates will continue to rise.

209

The market has a very consistent forecast for a decline in interest rates and everyone is betting strongly on that. The prevailing expectation is that this may be the last chance to get into the market before rates fall, so we may see a large inflow of dollars in the short-term.

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