Some of brazil's top hedge fund managers are turning to inflation-linked bonds to protect themselves from the fallout of the government's bid to reduce fuel prices which they believe could see the country's fiscal outlook worsen, according to a report by BNN Bloomberg.

Some of brazil's top hedge fund managers are turning to inflation-linked bonds to protect themselves from the fallout of the government's bid to reduce fuel prices which they believe could see the country's fiscal outlook worsen, according to a report by BNN Bloomberg.

Legacy Capital and MAG Investimentos are among the firms said to have increased their exposure to NTN-B bonds, which pay a fixed interest rate plus inflation, in recent weeks as President Jair Bolsonaro looks to boost his popularity ahead of the October election by boosting public spending.