Brazil stocks and bonds rise on detention of ex-president

Brazil's stock market and currency are now at their highest level in months due to the detention of ex-president Luiz Ignacio Lula da Silva.

The Brazilian trade equity fund rose more than 11 per cent, a seven month high, while the ETF rose more than 6 per cent.

Da Silva was detained for questioning regarding a bribery and money laundering scheme.

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