The Ibovespa rose over 1% to above 163,500, a new all-time high amid gains for banks and commodity giants. New data showed that the Brazilian GDP grew the least in over three years on annual terms, raising bets of incoming rate cuts by the BCB next year and consolidating long-term yields at their lowest in over one year. The pullback in borrowing costs aided banks, with Itau and Bradesco adding over 1% each. Also, firmer oil prices supported Petrobras with a 1% increase.