Radar Perene / lens macro
Macro Lens (CVM / Central Bank)
The Macro Lens reads Brazil's market regime through the institutional axis: Copom, the Central Bank, the CVM, the Treasury, Finance. The reading is cross-checked with the Perene Intermarket Doctrine for Brazil — seven calibrated intermarket ratios and a 0–100 score — and with global risk. The thesis sentence, across long cycles, is the same: capital tends to position before the headline.
Lens — current state
[Risk-BR: —] · [Regime: —] · [Convergence: — sources] · [Window: —] · [Confidence: —]
What this lens covers
Six slices: monetary policy (Copom, Selic target, minutes, Focus survey), FX (USD/BRL, flow, IOF), capital markets (CVM, IOSCO, fund regulation), banking regulation (Central Bank resolutions, local Basel), credit (loan origination, NPLs, SCR), fiscal (LDO, LOA, debt/GDP, real term premium).
How Perene reads this lens
The engine combines the regulatory regime (this lens), global risk (VIX, DXY, UST10y, gold), and Brazilian intermarket (seven ratios: Finance/IBOV, Utilities/IBOV, Commodities/IBOV, REITs/IBOV, Cyclical/Non-Cyclical, Coffee/Gold, VALE/Gold). The three axes are orthogonal by construction — divergences among them are editorially noble, not noise.
Concepts: Market regime · Perene Intermarket Doctrine · Brazilian fiscal stress