The Ibovespa fell 0.6% to hover below 144,000 on Monday, as investors tracked comments from Finance Minister Fernando Haddad, government budget updates, and remarks from Federal Reserve officials. Haddad confirmed the government is negotiating with Congress to “recalibrate” a provisional measure raising taxes on online betting, fintechs, and some investment instruments, part of efforts to balance public accounts. Later today, the government will release its third 2025 revenue and expenditure report, with markets expecting the R$10.7 billion budget freeze to remain unchanged. Abroad, focus stayed on the Fed, as policymakers signaled a gradual easing cycle. Among stocks, major banks fell (Itau -0.9%, Banco do Brasil -0.5%), along with Petrobras (-0.3%), while Vale (+0.3%) gained. Embraer jumped 1.4% after Latam and affiliates announced plans to acquire up to 74 aircraft to expand regional routes.