Brazil shuns volatile debt markets

The FINANCIAL — Brazil will not issue real-denominated bonds abroad this year because the country already sold enough debt in 2011 and so does not need to deal with turbulent world markets, Deputy Treasury Secretary Paulo Valle said.

"The market is volatile and the Treasury has already hit all its targets for the year," Valle said, speaking by telephone from Brasilia.

"We'll keep monitoring the situation."

Brazil's global real-denominated bonds maturing in 2028 yield 8.792 per cent in the secondary market, down from 9.736 per cent at the end of September. That's lower than the 8.85 per cent the government paid in October 2010.