BBG runs the latest Datafolha poll, which....>

BRAZIL: BBG runs the latest Datafolha poll, which reveals 45% of those

questioned are in favour of impeaching Brazilian Pres. Bolsonaro. This comes

after House Spkr Maia noted assessments surrounding the matter can't be rushed.

- Continued cases/allegations of cronyism, the govt's methods of dealing with

the the COVID-19 outbreak & high-profile ministerial turnover in recent weeks

have weighed on the BRL, which is the outright worst performer among LatAm FX

YtD in spot terms & joint worst performer in carry adj. terms (equal with the

MXN). USD/BRL continues to register fresh all time high after fresh all time

high, although increasing central bank intervention is contributing to violent

intraday price action. Focus has fallen on the future of Economy Minister

Guedes. Although Bolsonaro has expressed public support for Guedes BBG sources

have suggested that "lawmakers from centrist parties are putting pressure on

Bolsonaro to boost spending even if it forces Guedes out of the gov't." This

comes after Bolsonaro approached those parties to shore up support in Congress.

A Guedes exit could cause deeper uncertainty, with suggestions that his team

would exit en masse if he was forced out.