BofA forecasts Brazil's SELIC rate will reach 12.25% in 2028.

At the midday close, China’s front-month futures were mostly higher. Shanghai silver gained over 4%, palladium nearly 4%, container freight on Europe routes, synthetic rubber and platinum rose more than 3%; LPG, Shanghai gold, benzene and asphalt were up over 2%. On the downside, alumina fell about 2%; iron ore, palm oil, starch, corn, fiberboard and plywood declined more than 1%; rapeseed meal slipped nearly 1%.

Crusoe, a data-center startup supplying AI compute to Meta Platforms and Oracle, is in talks to raise roughly $3 bln, people familiar with the matter said, a deal that could roughly double its valuation to about $30 bln. The company is still negotiating the round and no final valuation has been set; investors expect a post-money valuation near $30 bln including the new capital. Crusoe was valued at about $10 bln in October last year.