Vi e w p o i n t | 20 Jul 2026 06:56:00 ET │ 36 pages Brazil Equity Strategy MVPs – July 2026 Positioned for Higher-for-Longer: Favoring Exporters in a Discounted Brazil CITI'S TAKE Our MVP portfolio performed in line with the IBOV over the past month, with both up 3.2%. We think persistent inflation in the US and a new Fed Chair building credibility may sustain higher rates for longer, resulting in a stronger USD. We therefore favor exporters such as Embraer, Petro and Prio and domestics stories less elast ...