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Market Update: Bovespa Closes Week on Sour Note
The main Sao Paulo stocks index closed Friday’s session slightly down but not far from an all-time high hit earlier this week, amid hopes of a solid recovery in 2021 and expectations that the country’s central bank would continue to tighten monetary policy. At the same time, investors bet that spiking US inflation would be temporary and should not affect the Federal Reserve’s current stimulus. Still, the benchmark Bovespa dropped nearly 0.5% this week, recording its first weekly decline in four. [/s2If]
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