Emerging Markets-Brazil rate futures yields up slightly despite weak GDP

SAO PAULO, March 7 Yields paid on Brazilian interest rate futures rose slightly on Tuesday despite worse-than-expected fourth-quarter economic data, as traders bet the central bank will be more focused on upcoming economic reports in deciding the pace of interest rate cuts. Brazil’s gross domestic product contracted by 3.6 percent in 2016, statistics agency IBGE said, following a 3.8 percent drop in 2015.