Today’s reading set was dominated by two themes. First, a year-end wave of cash returns: Pague Menos, Cemig, Guararapes/Riachuelo, Vulcabras, and BB Seguridade all published material dividend/JCP calendars or totals. Second, the macro guardrails tightened: the Senate’s IFI argued debt stabilization needs a 2.3% primary surplus, while its 2026 macro path points to 1.7% growth […]