Brazil Set for Longest Bond Drought on Record Amid Credit Woes
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Brazil is close to hitting its longest stretch ever without selling new bonds abroad.
The Treasury hasn’t sold new notes in international markets since its $1 billion issue of 2025 bonds in September 2014 as a deepening recession and a widening political crisis drove the nation’s credit rating to the cusp of junk. Brazil joins other developing nations such as Russia, which due to sanctions over its involvement in Ukrainian conflict hasn’t been able to access the international debt market since September 2013.