The scenario of falling interest rates, approval of the Social Security reform, and the truce in the trade war led Brazil's country risk to record the lowest level since May 13, 2013.
The indicator serves as an informal thermometer of investor confidence in economies, especially emerging ones.
The last time the 117-point mark was reached, the big popular demonstrations of 2013 had not yet occurred.
The protests marked the beginning of the political turmoil and also the economic cycle that resulted in a prolonged recession from which Brazil has not yet fully recovered.
For analysts, the international market has seen potential in the country, despite growth forecasts of around 2% for next year, a level considered not robust.
Some economists believe that this new scenario may improve the Brazilian rating by risk agencies.
Translated by Kiratiana Freelon