São Paulo, June 17, 2026, 14:11 BRT
- Bradesco’s BBDC4 preferred shares were up in São Paulo trading in the afternoon. Its U.S.-listed ADR moved higher as well.
- Ibovespa in Brazil added around 1% while investors watched for rate moves from Copom and the Federal Reserve.
- Bulls need lower rates to play out. Inflation, oil prices, and Fed language are the key risks.
Banco Bradesco S.A. preferred shares moved up 1.19% to R$17.87 on Wednesday afternoon in São Paulo. Trading ranged from R$17.72 to R$17.98 after opening at R$17.75, according to Google Finance at 13:56 BRT. Brazilian bank stocks were firmer ahead of a central bank decision later in the session.
The move is in focus as investors weigh banks against Brazil’s new interest-rate cycle. Lower rates can lift credit demand and support equity values, but they don’t fix tighter margins or bad loan risks.
B3 equities traded Wednesday, with the exchange’s June calendar showing Corpus Christi falls on June 4 for listed names. June 17 only halts structured dollar spread trades ahead of the U.S. Juneteenth break. In New York, Bradesco’s ADR moved at $3.50, up about 1.2%, at 16:53 UTC.
Bovespa added 1% and the real climbed 0.6% as traders across Latin America watched for signals from the Fed and local central banks, Reuters reported. Itaú Unibanco preferred shares rose 2.32% and Banco do Brasil added 1.49%. The moves kept Bradesco’s gains within a wider bank rally, not a stand-alone stock surge. Reuters Google
Brazil’s Copom was set to cut the Selic rate by 25 basis points to 14.25%, with 41 out of 45 economists in a Reuters poll calling for that move. “The committee’s communication between meetings is consistent with a further reduction in the Selic rate at a similar pace,” said Joao Savignon, head of macroeconomic research at Kinitro Capital. Reuters
Inflation is still the issue. Consumer prices in May climbed 4.72% from a year before, Reuters reported, citing official numbers. That’s above the central bank’s 3% target band, which allows for a 1.5 point tolerance. “Inflation remains under pressure,” said Rafael Rondinelli, economist at MAG Investimentos, who said the numbers signal a “need for caution” on rates. Reuters
Global rates are in play as well. The Federal Reserve was set to keep rates unchanged on Wednesday, with investors watching for any shift away from earlier signals of possible cuts. “We expect a more neutral bias,” JP Morgan chief U.S. economist Michael Feroli wrote ahead of the meeting. Goldman Sachs economist David Mericle flagged a “flat path” for rates if the U.S. economy keeps performing. Reuters
Oil’s steadier price could support Brazil’s rate path. Rogerio Ceron, the Finance Ministry executive secretary, told Reuters that Brazil might drop diesel and gasoline subsidies if oil holds around $80. He said calmer conditions in the Middle East could mean more leeway for monetary policy. Brent lost 5.1% Tuesday, ending at $78.96 after reports of a possible reopening of the Strait of Hormuz.
The rally still faces some big risks. A tough Copom statement, a stronger dollar after Fed comments, or another oil spike could make rate-cut bets tough to keep. For Bradesco, investors also have to judge if credit will get cheaper soon enough to balance out ongoing credit-quality and profit risks. Banco Bradesco runs its main business through lending, insurance, asset management, treasury, and investment banking, according to Reuters profile data.
