The first quarter of 2020 wraps up just as the Brazilian Central Bank slashes interest rates.. The move is an emergency measure that has already been made in other countries such as the US and UK in a response to the outbreak of the Covid-19 virus that has rattled financial markets across the world.
Structured product issuance in the Brazilian market crowned a new leader at the end of the first quarter of 2020, as Morgan Stanley surpassed Santander Brasil, the most prolific provider during the same quarter the previous year. Santander Brasil dominated the Brazilian structured products market in Q1 19 with 414 products at BRL 338.45m (US$65.2m) but did not make any issuances in Q1 20. Despite having issued a lower number of products in Q1 2020, Morgan Stanley sped ahead with a total figure
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