Brazil’s Financial Morning Call for January 28, 2026

Today’s Key Themes PicPay IPO → Brazil’s PicPay files for Nasdaq IPO (ticker PICS) at $16–$19/share, targeting $434M raise and $2.46B valuation; tests Pix-era wallet shift to credit banking amid turnaround from R$1.9B 2021 loss to R$252M 2024 profit, with 67M accounts and R$804M capital injections. Embraer backlog → Record $31.6B firm orders (+20% YoY), […]