Borrow in Japanese Yen at almost 0 interest rates (and to a lesser extent USD) buy Brazilian bonds (or Australian or NZ) which yield better.
Leverage the trade to the sky. Pull funds and crash the target currencies (ie Brazilian Real) when the world economy hits the skids. The move back into cash in the currency that is borrowed from causes those currencies to strengthen magnifying the effect - one factor leading to a stronger USD and JPY in times of crisis.
Brazilian consumer prices jumped more than economists expected this month, limiting the central bank’s space to further cut interest rates to shore up growth in Latin America’s biggest economy. Yields on interest-rate futures rose. Consumer prices, as measured by the IPCA-15 index, rose 0.53 percent in the month through mid-September, the national statistics agency said today. That’s the fastest pace since May and steeper than 40 of 41 economists expected in a Bloomberg survey whose median forecast was for a 0.49 percent price rise. Prices rose 7.33 percent from a year ago, the fastest pace in six years. Inflation first breached the 6.5 percent upper limit of the government’s target range in May.