Trial now
CORN TECHS

(N1) Fresh Cycle High

STIR

Effective Fed Funds Rate

BONDS

Selling interest across the board

BRAZIL
  • State Governor, Wilson Lima, has admitted the state is "facing the most critical moment of the pandemic" as alarming new details emerge surrounding the breakdown of the Manaus health system.
  • As the situation becomes more intense, an immediate state curfew has been imposed between the hours of 1900-0600 in an attempt to slow the surge in cases and deaths.
  • A local epidemiologist from the Fiocruz public health research centre, Jesem Orellana, described the situation as an "unprecedented calamity". She explained further that "in the coming hours Manaus is going to be the protagonist of one of the saddest chapters of the Covid-19 epidemic in the world."
  • Brazil's Vice President Mourão made it clear oxygen cylinders were being airlifted into Manaus by the air force and patients are being evacuated to other states for treatment. However, many will see such actions as too little, too late.
  • Bolsonaro has continued to downplay the virus and recent developments may force his hand into restarting emergency aid that was curtailed at the end of December.
  • Indeed, Lower House President Rodrigo Maia has already called for Congress's early return from recess which may pressure local assets as fiscal pressures intensify.
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com