Banco Bradesco’s American depositary shares are trading lower in U.S. hours, down roughly 3.46% to $3.93. The decline is tracking weakness across Brazilian financials as investors mark down the sector amid a jump in local yields and a softer tone in Brazil equities.

Brazil’s benchmark equity market is pulling back, and the banking group is under particular pressure as bond yields climb. Higher yields tend to weigh on banks by raising discount rates used in valuation models and by stoking concerns that tighter financial conditions can slow loan growth and reduce credit demand, especially in rate-sensitive consumer and small-business segments. In the same tape, other major Brazilian banks are also down, reinforcing that the catalyst is macro/market-driven rather than a Bradesco-specific headline.

Bradesco’s ADR can amplify Brazil macro swings because it prices in both local financial conditions and global risk appetite. When investors rotate away from emerging-market risk and yields move higher, Brazilian bank ADRs often trade as a basket, and Bradesco can fall even without fresh company news. Traders will be watching whether yields continue to rise and whether the broader Brazil equity pullback deepens, which could keep pressure on BBD in the near term.