The Ibovespa climbed over 1% on Wednesday to trade near 184,000, as investors priced in stable interest rates from both Brazil’s central bank and the US Fed. Falling government bond yields in Brazil supported financial stocks, with Itaú rising 1.6%, Bradesco up 0.5%, and Banco do Brasil gaining 2%. Utilities also advanced, led by Axia, up more than 1%. Petrobras jumped over 2% amid higher oil prices. Vale added nearly 1% after reporting 4Q25 production figures, showing iron ore output of 336.1 million tonnes in 2025, up 2.6% year on year. Embraer rose 0.6% after posting a record backlog of US$31.6 billion in 4Q25, up 1% quarter on quarter, while aircraft deliveries surged 21% year on year to 91 units, marking a fifth consecutive quarterly record. Other gainers included Ambev (+1%) and Rede D’Or (+1.8%).