(*Calculating the change in Price from Bloomberg 10 year Brazilian par bonds 
T reflects three month reduction in term to maturity; COUP is the par
bond yield observed at t = 0; r is the yield observed at t=1 *)
T=9.75
COUP=11.92
r=.1281
(COUP*((1/r)-(1/(r*((1+r)^T)))))+(100/((1+r)^T))

(* Calculating the local return for the Game *)

((95.20-100+ (11.92/4))/100)

(* Calculating the FX rate Sept 15 S(0) = .2426 CAD to BRL
Nov. 21 S(1) =.2404  CAD to BRL from
https://www.xe.com/currencyconverter/ *)
.2404/.2426

(* Total Return *)
(1-.0182)*%

%-1

(*Calculating the US GOVT ishares Treasury ETF local return
Sept 16 P(0) = 23.66   Nov.20 P(1) = 22.63  COUP (.0314/4)* 23.66 
Quotes from Globe investor*)
 
(22.63+((.0314/4)*23.66))/23.66

(*Calculating FX rate S(1) = 1.397  S(0) = 1.3578 *)
(1.397/1.3578)

(* Total return *)
(.9643)*1.0289

%-1