This paper investigates the drivers of long term real interest rates in Brazil. It is shown that long term yield on inflation linked bonds are driven by yields on 10 year interest rates of United States (US) government bonds and 10 year risk premium. as measured by the Credit Default Swap (CDS). Long term interest rates in Brazil were on a downward trend. https://www.mightysquinnsmokeshops.shop/product-category/puffco-peak-pro/